mework 1 Che Zolnick Enterprises has two hourly employees: Kelly and Jon. Both employees earn...
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Accounting
mework 1 Che Zolnick Enterprises has two hourly employees: Kelly and Jon. Both employees earn overtime at the rate of 1% times the hourly rate for hours worked in excess of 40 per week. Assume the Social Security tax rate is 6 percent on the first $110,000 of wages, and the Medicare tax rate is 1.5 percent on all earnings. Federal income tax withheld for Kelly and Jon was $260 and $220 respectively. The following information is for the first week in January Year 1: Kelly Jon $32 $26 Required a. & b. Calculate the gross pay and the net pay for each employee for the week. (Round the intermediate calculations and your final answers to 2 decimal places.) b. Net pay
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