An employee earns $32 per hour and 1 times that rate for all hours in excess of

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An employee earns $32 per hour and 1½ times that rate for all hours in excess of 40 hours per week. Assume that the employee worked 50 hours during the week. Assume further that the FICA tax rate was 7.5% and federal income tax to be withheld was $410.
a. Determine the gross pay for the week.
b. Determine the net pay for the week.

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Financial Accounting An Integrated Statements Approach

ISBN: 978-0324312119

2nd Edition

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

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