Financial Accounting, Student Value Edition (5th Edition)
5th Edition
ISBN: 9780134728520
Author: Robert Kemp, Jeffrey Waybright
Publisher: PEARSON
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Chapter 9.A, Problem 1SE
Calculate employee payroll (Learning Objective 8) 5-10 min.
Rob Miller is paid $32 per hour for a 40-hour week and time-and-a-half for hours that exceed 40.
- 1. Compute Miller’s gross pay for working 48 hours during the week.
- 2. Miller’s income tax withholding is 15% of total gross pay. His only payroll deductions are payroll taxes. Compute Miller’s net pay for the week, using a 7.65% FICA tax rate. Assume his total earnings for the year prior to this pay period total $54,800. Round amounts to the nearest cent.
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Chapter 9 Solutions
Financial Accounting, Student Value Edition (5th Edition)
Ch. 9.A - Calculate employee payroll (Learning Objective 8)...Ch. 9.A - Calculate net pay (Learning Objective 8) 5-10 min....Ch. 9.A - Employer payroll costs (Learning Objective 8) 5-10...Ch. 9.A - Prob. 4AECh. 9.A - Prob. 5AECh. 9.A - Prob. 6AECh. 9.A - Prob. 7BECh. 9.A - Prob. 8BECh. 9.A - Calculating gross and net pay (Learning Objective...Ch. 9.A - Calculating gross and net pay (Learning Objective...
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