contestada

John worked 43 hours last week. His hourly rate is $9.00. He has the following deductions taken from his pay: Social Security tax at the rate of 6.2 percent, Medicare tax at the rate of 1.45 percent, health insurance premiums of $15.00, and 401(k) contributions of 5 percent of gross pay. John also has federal income tax withheld at the rate of 10 percent. Federal taxes do not apply to the 401(k) contribution. John’s net pay for last week was $

Respuesta :

anthougo

John's net pay for last week was $286.28

Data and Calculations:

Number of hours worked = 43 hours

Hourly pay rate = $9.00

Gross earnings = $387 ($9 x 43)

Deductions:

Social Security Tax = $23.99 ($387 x 6.2%)

Medicate Tax = $5.61 ($387 x 1.45%)

Health insurance premiums = $15

401(k) Contributions = $19.35 ($387 x 5%)

Federal withholding tax = $36.77 ($387 - $19.35) x 10%)

Total deductions = $100.72

Thus, John's net pay for last week was $286.28 ($387 - $100.72).

Learn more about net pay after deducting taxes at https://brainly.com/question/15858747

Otras preguntas