An employee receives an hourly rate of $25, with time and a half for all hours worked in excess of 40 during a week. Payroll data for the current week are as follows: hours worked, 46 federal income tax withheld, $350; cumulative earnings for year prior to current week, $99,700; social security tax rate, 6.0% on maximum of $100,000; and Medicare tax rate, 1.5% on all earnings. What is the net
amount to be paid the employee?
A) $875.00
B) $838.62
C) $857.00
D) $1133.14
B
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All of the following complicate the implementation of an international diversification strategy EXCEPT:
A. widespread multilingualism. B. increased costs of coordination between business units. C. cultural diversity. D. logistical costs.
Morris Company uses the lower of cost or market rule and applies it using the LIFO method in valuing its inventory. The floor constraint for one item in the inventory is $68.20. The following is other information concerning this unit: Transportation costs $ 4.00 Normal profit margin 12.70 Packaging costs 4.20 The net realizable value for this item is
A) $72.40 B) $55.50 C) $80.90 D) $76.40
During July2013 Ralston Company decides to dispose of one of its subsidiaries which qualifies for accounting as a discontinued operation. At the July2013 measurement date Ralston Company estimates that it will report net income of $300,0000 dollars from the measurement date until the disposal date which is expected to be in April 2014 In addition, Ralston estimates that it will lose 100,000 on
the sale of the segment. How much gain or loss on discontinued operations will Ralston report in its 2012 income statement (net of income taxes)? a. $200,000 gain b. $0 c. $100,000 loss d. $300,000 loss
The prepaid insurance account had a beginning balance of $6,600 and was debited for $2,300 for premiums paid during the year. Journalize the adjusting entry required at the end of the year, assuming the amount of unexpired insurance related to future periods is $4,100