Home / Assignment Help / 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 60 hours during the week, and that the gross pay prior to the current week totaled $52,200. assume further that the social security tax rate was 6.0%, the medicare tax rate was 1.5%, and federal income tax to be withheld was $605.

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 60 hours during the week, and that the gross pay prior to the current week totaled $52,200. assume further that the social security tax rate was 6.0%, the medicare tax rate was 1.5%, and federal income tax to be withheld was $605.

Employee                                 Mary      Zoe         Greg         Ann           Tom

Cumulative Pay                       $6,800   $10,500  $8,400    $66,000   $4,700

Pay subject to FICA S.S.         $421.60  $651.00  $520.80 $4092.00 $291.40
6.2%, (First $118,000)

Pay subject to FICA Medicare $98.60 $152.25    $121.80    $957.00    $68.15
1.45% of gross

Pay subject to FUTA Taxes      $40.80  $63.00     $50.40    $396.00  $28.20
0.6%

Pay subject to SUTA Taxes   $367.20  $567.00  $453.60  $3564.00 $253.80
5.4% (First $7000)

Totals                                     $928.20 $1,433.25 $1,146.60 $9,009.00 $641.55

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