Essay
Ken Astor is a factory worker at Flox Co. earning $27.00 per hour. Astor is eligible for five paid holidays and six weeks vacation and is paid "time-and-a-half" for overtime. Astor's earnings so far this year are $45,000.
Tax rates are as follows:
Employee income tax 15% on all earnings
FICA 8% on first $100,000 of earnings
FUTA 1% on first $8,000 of earnings
SUTA 4% on first $8,000 of earnings
Assuming Ken worked 46 hours this week, calculate the total expense to Flox Co for this weeks, wages, payroll taxes and fringe benefits.
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