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  3. 1. an employee carns $20 per hour and 1.5 times th

1. An employee carns $20 per hour and 1.5 times that rate for all hours...

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Accounting

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1. An employee carns $20 per hour and 1.5 times that rate for all hours worked in excess of 40 hours per week. Assume the employee worked 60 hours during the week and the gross pay prior to the current week totaled $58,000. Assume further that the Social Security tax rate is 6.2% (on carnings up to $128,400), the Medicare tax rate is 1.45% on all carnings, and the federal income tax withheld was $315. Required: (a) Determine the gross pay for this employee for this pay period. (b) Determine the net pay for this employee for this pay period

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