For an employee earning $10.20 per hour and participating in a 401(k) plan with a deferral per pay period of $50, compute the federal taxable wages based on the following:
a) biweekly pay period regular 80 hours
b) 4 hours overtime
c) 3 hours double-time

federal taxable wages = $888.40

Step-by-step explanation:

Federal taxable wages = total wage - deferral per pay

To calculate total pay, we estimate for each condition given.

A) regular 80hour = 80× $10.20= $816.00

B) 4 hours overtime = 4 × 1.5 × $10.20= $61.2

C) 3hours double time= 3× 2×$10.20 = $61.2

Note: the pay rate for overtime and double time is usually 1.5 and 2 times the regular pay rate respectively.

Total wage = $(816+61.2+61.2)= $938.4

Deferral per pay period according to the question is =$50

Federal taxable wages= $938.4 - $50

=$888.40

Goodluck.

1

step-by-step explanation:

it's the only multiple of both and the least