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

question 2

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, 48; federal income tax withheld, $120; 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 to the employee?

• A) $568.74
• B) $601.50
• C) $660.00
• D) $574.90

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Definitions:

Developmental Psychologist

A developmental psychologist studies how people grow, change, and face challenges throughout their lifespan, from infancy to old age.

Physiological Psychologist

A specialist who studies the biological basis of behavior, focusing on the physical and chemical processes occurring in the nervous system.

Empirically Based

Pertains to practices, theories, or approaches that are supported by observable and measurable evidence, often through scientific research and experimentation.

Intuitive Knowledge

Understanding or knowledge gained without conscious reasoning, often based on instinct.