Answered

Looking for answers? Westonci.ca is your go-to Q&A platform, offering quick, trustworthy responses from a community of experts. Connect with a community of professionals ready to help you find accurate solutions to your questions quickly and efficiently. Experience the convenience of finding accurate answers to your questions from knowledgeable experts on our platform.

A statement of an employee's biweekly earnings is given below.

\begin{tabular}{|c|c|cccc|c|}
\hline
& Earnings & \multicolumn{5}{|c|}{ Deductions } \\
\hline
Week Ended & Regular & FED. & SOC. & MED & STATE & NET PAY \\
& & WITH. & WITH. & CARE. & WITH. & \\
\hline
[tex]$8 / 18$[/tex] & [tex]$\$[/tex] 727.80[tex]$ & $[/tex]\[tex]$ 62.00$[/tex] & [tex]$\$[/tex] 45.06[tex]$ & $[/tex]\[tex]$ 10.54$[/tex] & [tex]$\$[/tex] 12.40[tex]$ & $[/tex]\[tex]$ 596.80$[/tex] \\
\hline
\end{tabular}

What is the employee's gross pay?

a. [tex]$\$[/tex] 703.86[tex]$

b. $[/tex]\[tex]$ 714.40$[/tex]

c. [tex]$\$[/tex] 716.26[tex]$

d. $[/tex]\[tex]$ 726.80$[/tex]

Please select the best answer from the choices provided.

A

B

C

D

Sagot :

GinnyAnswer
To determine the employee's gross pay, we need to first calculate the total deductions and then add these deductions to the net pay. Here is the step-by-step solution:

1. List the amounts withheld:
- Federal withholding: \[tex]$62.00 - Social Security withholding: \$[/tex]45.06
- Medicare withholding: \[tex]$10.54 - State withholding: \$[/tex]12.40

2. Calculate the total deductions:
- Total deductions = \[tex]$62.00 + \$[/tex]45.06 + \[tex]$10.54 + \$[/tex]12.40
- Total deductions = \[tex]$130.00 3. Determine the net pay: - Net pay = \$[/tex]596.80

4. Calculate the gross pay by adding the total deductions to the net pay:
- Gross pay = Net pay + Total deductions
- Gross pay = \[tex]$596.80 + \$[/tex]130.00
- Gross pay = \[tex]$726.80 Therefore, the employee's gross pay is \$[/tex]726.80.

The correct answer is:
d. \$726.80
We appreciate your time. Please come back anytime for the latest information and answers to your questions. Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. We're glad you visited Westonci.ca. Return anytime for updated answers from our knowledgeable team.