John Packer Payroll - 7.65% Notes: 1. The taxable pay is...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Alternate Payroll Name Gross Pay Net Pay Barber 2 $8.00 40 8 $448.00 $348.00 $87.00 $34.27 $326.73 Packer 2 $8.00 40 10 $480.00 $380.00 $95.00 $36.72 $348.28 Plant 2 $7.20 40 8 $403.20 $303.20 $75.80 $30.84 $296.56 Pons 3 $10.00 40 4 $480.00 $330.00 $82.50 $36.72 $360.78 Spitzer 1 $14.00 40 8 $784.00 $734.00 $183.50 $59.98 $540.52 Stutz 1 $9.00 35 0 $315.00 $265.00 $66.25 $24.10 $224.65 Yanez 4 $9.20 40 0 $368.00 $168.00 $42.00 $28.15 $297.85 Totals $3,278.20 $2,528.20 $632.05 $250.78 $2,395.37 Assumptions Overtime rate 2.00 Deduction per dependent $50.00 Withholding tax 25% Social Security/Mediare tax
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: 7.65% Notes: 1. The taxable pay is the gross pay minus the deduction per dependent times the number of dependents 2. Withholding tax is calculated on the taxable pay 3. Social Security tax is calculated on the employee's gross pay 4. The overtime bonus is a variable rate and is found in cell E14. Number of Dependents Hourly Wage Regular Hours Overtime Hours Taxable Income Withholding Tax Soc Sec Tax...
View Full Document

This note was uploaded on 01/20/2012 for the course ITC ITC 3001 taught by Professor Don'tknow during the Spring '09 term at Columbia Southern University, Orange Beach.

Ask a homework question - tutors are online