Question

Answer the following payroll calculations

1. If you make $14 an hour and you work 32 hours a week, what is your gross pay for the week?

2. What is your net pay, if you have Federal taxes taken out at 10%, State taxes at 4.5% and FICA at 6%?

3. If you make $17 an hour and you work 40 hours a week, what is your gross pay for the week?

What is your net pay, if you have Federal taxes taken out at 10%, State taxes at
4.5% and FICA at 6%?

4. If you make $20 an hour and you work 40 hours a week, You also worked 5 hours of overtime, at time and a half, what is your gross pay for the week?

5. What is your net pay, if you have Federal taxes taken out at 14%, State taxes at 4.5% and FICA at 6%?

Answer 1

1. Gross pay = hourly rate x hours worked

Gross pay = $14 x 32 = $448

2. Net pay = gross pay - deductions

Federal taxes = 10% of gross pay = 0.1 x $448 = $44.80

State taxes = 4.5% of gross pay = 0.045 x $448 = $20.16

FICA = 6% of gross pay = 0.06 x $448 = $26.88

Total deductions = $44.80 + $20.16 + $26.88 = $91.84

Net pay = $448 - $91.84 = $356.16

3. Gross pay = hourly rate x hours worked

Gross pay = $17 x 40 = $680

4. Regular pay = hourly rate x hours worked

Regular pay = $20 x 40 = $800

Overtime pay = (hourly rate x 1.5) x overtime hours

Overtime pay = ($20 x 1.5) x 5 = $150

Gross pay = regular pay + overtime pay

Gross pay = $800 + $150 = $950

5. Net pay = gross pay - deductions

Federal taxes = 14% of gross pay = 0.14 x $950 = $133

State taxes = 4.5% of gross pay = 0.045 x $950 = $42.75

FICA = 6% of gross pay = 0.06 x $950 = $57

Total deductions = $133 + $42.75 + $57 = $232.75

Net pay = $950 - $232.75 = $717.25

Explanation: