Compute payroll An employee earns $36 per hour and 1.5 times that rate for all...
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Accounting
Compute payroll
An employee earns $36 per hour and 1.5 times that rate for all hours in excess of 40 hours per week. Assume that the employee worked 55 hours during the week. Assume that the FICA tax rate is 7.5% and that federal income tax of $518 was withheld.
a. Determine the gross pay for the week. $
b. Determine the net pay for the week. Round intermediate calculations and your final answer to the nearest cent, if rounding is required. $
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