John David has a regular hourly wage of $18 per hour. His overtime pay rate is time and a half. The FICA tax rate is 7.65%John gets paid every two weeks. For the first payroll period in January, John worked 84 hours of which 4 were overtime hours. John's federal income tax withholding is $420 and his state income tax withholding is $ 180. John has asked that $60 be withheld from his paycheck for savings bonds.

John David has a regular hourly wage of $18 per hour. His overtime pay rate is time and a half. The FICA tax rate is 7.65%John gets paid every two weeks. For the first payroll period in January, John worked 84 hours of which 4 were overtime hours. John's federal income tax withholding is $420 and his state income tax withholding is $ 180. John has asked that $60 be withheld from his paycheck for savings bonds.

College Accounting (Book Only): A Career Approach

12th Edition

ISBN:9781305084087

Author:Cathy J. Scott

Publisher:Cathy J. Scott

Chapter7: Employee Earnings And Deductions

Section: Chapter Questions

Problem 1PA

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