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14 March, 12:49

Mr. Zee worked 48 hours during the week ended January 18, 2019. He is paid $12 per hour and is paid time and a half for all hours over 40 in a week. He had $100 withheld from his pay for federal income taxes and $20 withheld for health insurance. The combined social security and Medicare tax rate is 7.65%, and the federal and state unemployment tax rates are 0.6% and 3.8%, respectively. All earnings are taxable. What is the net pay for Mr. Zee's current paycheck?

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  1. 14 March, 14:08
    0
    =$524.81

    Explanation:

    Net pay = Earning - taxation

    Calculating net pay: hour pay x hours worked

    = $12 x 40

    = $ 480

    overtime pay = 12 + (50/100x12) x 8

    = (12+6) x8

    =144

    total earnings = $144+$ 480 = $624

    less deduction

    social and medicare rate = 7.65 percent

    federal and state unemployment rate = 0.6 + 3.8%

    total deduction = 7.65 + O. 6 + 3.8 = 12.05 %

    Actual deduction = 12.05/100 x 624 = 75.19

    Net pay = $624 - $75.19

    =$524.81
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