chap2_pe4_exppayroll_solution

chap2_pe4_exppayroll_solution - Tax Rate Overtime rate 1.5...

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Smithtown Hospital Radiology Department Payroll Name Gross Pay Net Pay Dwyer $8.00 40 8 $416.00 $104.00 $116.48 $195.52 Smith $7.20 40 8 $374.40 $93.60 $104.83 $175.97 Brown $8.00 40 10 $440.00 $110.00 $123.20 $206.80 Look $9.00 35 0 $315.00 $78.75 $88.20 $148.05 Thomas $9.20 40 0 $368.00 $92.00 $103.04 $172.96 Gonzolaz $10.00 40 4 $460.00 $128.80 $128.80 $202.40 Synder $14.00 40 8 $728.00 $225.68 $203.84 $298.48 Franklin $6.35 20 0 $127.00 $19.05 $35.56 $72.39 Kennedy $7.20 38 0 $273.60 $60.19 $76.61 $136.80 Willson $10.00 40 5 $475.00 $133.00 $133.00 $209.00 Johnson $6.35 15 0 $95.25 $14.29 $26.67 $54.29 Schmitz $7.20 10 0 $72.00 $10.80 $20.16 $41.04 Totals $4,144.25 $1,070.16 $1,160.39 $1,913.70 Assumptions Summary Taxable Pay
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Unformatted text preview: Tax Rate Overtime rate 1.5 Average Gross Pay $345.35 $0 15% Withholding tax 28.00% Highest Gross Pay $728.00 $250 22% Lowest Gross Pay $72.00 $300 25% $450 28% Prepared by: Ron Francois 2/13/2012 $525 31% Notes: 1. Withholding tax is calculated on the taxable pay 2. Social Security tax is calculated on the employee's gross pay Hourly Wage Regular Hours Overtime Hours Withholding Tax Soc Sec Tax A B C D E F G H I J K 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28...
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