Question

Calculate an employee's net wage given hours and pay. Each employee is paid 1.5 times their regular hourly rate for all hours over 40. A tax amount of 3.625 percent of gross salary is deducted.

A)Net Wage=(Hours×Regular Rate+1.5×Overtime Hours×Regular Rate)×(1−0.03625)
B)Net Wage=(Hours×Regular Rate+1.5×Overtime Hours×Regular Rate)×(1+0.03625)
C)Net Wage=(Hours×Regular Rate+1.5×Overtime Hours×Regular Rate)×(1−0.03625)−Tax Amount
D)Net Wage=(Hours×Regular Rate+1.5×Overtime Hours×Regular Rate)−Tax Amount

Answer 1

The correct formula to calculate an employee's net wage in this scenario is (Hours × Regular Rate + 1.5 × Overtime Hours × Regular Rate) × (1 - 0.03625) - Tax Amount.

This formula takes into account the regular rate, overtime hours, and the tax amount to calculate the net wage.

Step-by-step explanation:

The correct formula to calculate an employee's net wage in this scenario is:

Net Wage = (Hours × Regular Rate + 1.5 × Overtime Hours × Regular Rate) × (1 - 0.03625) - Tax Amount

This formula takes into account the regular rate, overtime hours, and the tax amount to calculate the net wage.

The tax amount is deducted from the total wage. It is important to subtract the tax amount from the calculation to determine the actual net wage