College Algebra - Payroll Assignment

Topics: Expense, Payrolling, Payroll Pages: 2 (411 words) Published: August 27, 2013
Week 6 Teamwork Assignment

Task #1: Weekly pay before deductions or expenses
Job 1: $50,310 / 52 week in a year = $967.50 Job 2: 6 hours a day x 5 days a week x $20.50 = $615.00

Task #2: Weekly payroll deductions
Job 1: $967.50 x 0.15 = $145.13
Job 2: $615 x 0.12 = $73.80

Task #3: Weekly job-related expenses
Job 1:
Daycare: $175.00
After school program: $75.00
Clothing: $25.00
Other work-related expenses: $50.00
Transportation: $0.35 x 45 x 5 =$78.75
TOTAL WEEKLY JOB-RELATED EXPENSES FOR JOB 1: $403.75
Job 2: I want to clarify something for task #3 in this activity. The textbook states that at the part-time job, the daycare, after-school program, and other expenses will all be reduced by $25 per week. That statement is not completely accurate. The clothing expenses for job#2 will remain $25 each week. All of the other expenses mentioned will reduce by $25 each week. Daycare: $150.00

After school program: $50.00
Clothing: $25.00
Other work-related expenses: $25.00
Transportation: $0.35 x 5 x 5 = $8.75
TOTAL WEEKLY JOB-RELATED EXPENSES FOR JOB 2: $258.75

Task 4: How much money is left after deductions and expenses are subtracted from the weekly pay? Job 1:
$967.50 (Weekly pay) - $145.13 (Payroll deduction) - $403.75 (Job-related expenses) = $418.62 Job 2:
$615.00 (Weekly pay) - $73.80 (Payroll deduction) - $258.75 (Job-related expenses) = $282.45

Task 5: What is the “real hourly wage”? Make sure you include the total time spent working and commuting. Job 1: $418.62 / 50 (45 + 5) (Hours at work + commute time) ≈ $8.37 Job 2: $282.45 / 31 (30 + 1) (Hours at work + commute time) ≈ $9.11

Task 6: Which job has the higher “real hourly wage”?
Job 2 has the higher “real hourly wage”.

Task 7:...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • College Algebra Essay
  • Payroll Processing Methods Essay
  • College Essay
  • payroll Research Paper
  • Payroll Essay
  • Algebra Essay
  • Essay on Tutorial of College Algebra
  • assignment Essay

Become a StudyMode Member

Sign Up - It's Free