An Employee Receives an Hourly Rate of $15, with Time

question 34

Multiple Choice

An employee receives an hourly rate of $15, with time and a half for all hours worked in excess of 40 during the week. Payroll data for the current week are as follows: hours worked, 46; federal income tax withheld, $110; cumulative earnings for the year prior to this week, $24,500; Social security tax rate, 6% on maximum of $100,000; and Medicare tax rate, 1.5% on all earnings; state unemployment compensation tax, 3.4% on the first $7,000; federal unemployment compensation tax, .8% on the first $7,000. What is the net amount to be paid the employee?

• A) $569.87
• B) $539.00
• C) $625.00
• D) $544.88

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Definitions:

Cognitive Psychology

A branch of psychology that studies mental processes including how people think, perceive, remember, and learn.

Thoughts

Mental processes or ideas that occur in the mind, involving reasoning, reflection, imagination, and the formulation of opinions.

Relationship to Our Experiences

How personal encounters and events in life shape our understanding, perceptions, and interactions with the world.

PhD in Psychology

An advanced academic degree focusing on the study of the mind and behavior, leading to a Doctor of Philosophy in Psychology.