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Zolnick Enterprises has two hourly employees: Kelly and Jon. Both employees earn overtime at the rate of 1.5 times the hourly rate for hours worked in excess of 40 per week. Assume the Social Security tax rate is 6 percent on the first $110,000 of wages, and the Medicare tax rate is 1.5 percent on all earnings. Federal income tax withheld for Kelly and Jon was $240 and $233, respectively. The following information is for the first week in January Year 1:

Employee Hours worked Wage Rate per hour
Kelly 54 $20
Jon 49 $25

Required:
Calculate the gross pay for each employee for the week.

Respuesta :

The gross pay for both Kelly and Jon will be $1220 and $1270 respectively.

The gross pay for Kelly for the week will be:

= (40 × $20) + [(54 - 40) × 1.5 × $20]

= $800 + (14 × 1.5 × $20).

= $800 + $420

= $1220

The gross pay for Jon will be:

= (40 × $25) + [(49 - 40) × 1.5 × $20]

= $1000 + (9 × 1.5 × $20)

= $1000 + $270

= $1270

Therefore, the gross pay for both Kelly and Jon will be $1220 and $1270.

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