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Calculate the employee’s net pay for the week

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An employee’s rate of pay is $40.00 per hour, with time and a half for all hours worked in excess of 40 during a week. The following data are available:

Allowances claimed on W-4 4
Allowance amount allowed: $70 ea.
Hours worked this week 50
Y T D Earnings prior $105,200
F I T Withheld $ 340.44 plus 28%
Social Security tax was withheld @ the rate of 6.2% on the 1st $ 106,400
Medicare tax was withheld @ the rate of 1.45 %

Based on this data, calculate the employee’s net pay for the week. Show your calculations.

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An employee’s rate of pay is $40.00 per hour, with time and a half for all hours worked in excess of 40 during a week. The following data are available:

Allowances claimed on W-4 4
Allowance amount allowed: $70 ea.
Hours worked this week 50
Y T D Earnings prior $105,200
F I T Withheld $ 340.44 plus 28%
Social Security tax was withheld @ the rate of 6.2% on the 1st $ 106,400
Medicare tax was withheld @ the rate of 1.45 %

Based on this data, calculate the employee’s net pay for the week. Show your calculations.

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