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Daily pay = $1,000 / 5 = $200Annual holiday pay = $200×10 = $2,000Weeks over which holiday pay is earned = 52 - 4 = 48$2,000 / 48 weeks = $41.67 per week
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- LO2 Joyce Lee earns 30,000 a year. Her employer pays a matching Social Security tax of 6.2% on the first 118,500 in earnings, a Medicare tax of 1.45% on gross earnings, and a FUTA tax of 0.6% and a SUTA tax of 5.4%, both on the first 7,000 in earnings. What is the total cost of Joyce Lee to her employer? (a) 32,295 (b) 30,000 (c) 30,420 (d) 32,715BI WEEKLY Molly is a salaried employee; she makes $42,000 a year and is paid bi-weekly. What is her gross pay? $42,000/26=$1,615.38Madeline is paid a salary of $68,000 per year. If the company pays payroll biweekly, what are Madeline’s gross earnings per pay period if she works 60 hours/week? a. $2,833.33 b. $2,615.38 c. $5,666.67 d. $4,640.00
- 1. Jonas Brown is employed as a mechanic in Country A. His emoluments is $40,000 per week . He receives a tax-free travelling allowance of $5,000 per week. Calculate his annual deductions assuming the following:a. The annual income tax threshold is $1,000,000 per year. b. Housing Contribution Rate 3% for the employer 2% for the employee. c. John contributes 10% per month to an approved pension scheme and his employer provides a matching contribution.d. National Insurance is 3% for the employer and 3% for the employee.e. The income tax rate is 25%. f. Number of weeks is 52Juan earns the basic salary of P44,000 a month. His daily compensation rate is P2,000. For the current month, Juan availed a total 3-day vacation leave with pay. Of the basic salary, how much should be reported as the salary of Juan for the current month? P50,000P44,000P38,000P22,000Carl is paid an hourly rate of $12.65. What is his annual gross pay if he works 25 hours per week? $316.75
- Assume that Johnson earns $24 per hour and he worked 40 hours this week. The Social Security rate is 6.2% and the Medicare rate is 1.45%, and his entire earnings are subject to both FICA taxes. Also, $120 in income taxes and $40 of union dues are withheld. Johnson's net take-home pay should be: Select one: O O O O A. $726.56 B. $800.00 C. $640.00 D. $738.80Hermione's employer pays $2,356 in health insurance and $156 in life insurance per year. She also gets $3,626 in paid time off per year. Her monthly gross pay is S4,664. What are Hermione's total job benefits per year? a. 56,138 b. S10,802 c. $55.968 d. $62.106Gabriel receives an annual salary of $74,300; he is paid monthly, and his regular workweek is 38 hours. a) Calculate his regular pay per payment period. $ b) Calculate his hourly rate of pay. $ c) If his overtime rate is double the regular pay, calculate the overtime rate of pay. $ d) What is Gabriel's gross pay for a pay period in which he worked 13 hours overtime at double regular pay? $
- 1. Hannah makes $8.75 per hour. She works 30 hours per week. Find: a. Her weekly pay b. Her monthly pay c. Her yearly payListen A direct laborer in a factory earns $1,000 each week. In addition, she will receive a $2,500 bonus at year-end, a two-week paid vacation, and seven paid holidays. Prepare the entry to distribute her wages and the costs and liabilities related to bonus, vacation, and holiday pay. (Round all amounts to two decimal places.)A man earns a salary of $114,764 annually and is paid biweekly. How much is his gross biweekly income? The man's gross biweekly income is S (Round to the nearest cent as needed.)
