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Payroll Summary for Sunrise Credit Union

This payroll summary shows the regular pay, overtime pay, gross pay, taxable pay, federal tax withholding, FICA taxes, and net pay for 16 employees of the Sunrise Credit Union Norfolk Branch. On average, employees worked 41 hours and earned $436.25 in gross pay. The employee with the highest gross pay earned $646.25 working 50 hours, while the lowest gross pay was $149.25 for 15 hours worked. Taxes were withheld from paychecks at varying rates depending on taxable income.

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97 views1 page

Payroll Summary for Sunrise Credit Union

This payroll summary shows the regular pay, overtime pay, gross pay, taxable pay, federal tax withholding, FICA taxes, and net pay for 16 employees of the Sunrise Credit Union Norfolk Branch. On average, employees worked 41 hours and earned $436.25 in gross pay. The employee with the highest gross pay earned $646.25 working 50 hours, while the lowest gross pay was $149.25 for 15 hours worked. Taxes were withheld from paychecks at varying rates depending on taxable income.

Uploaded by

anzar
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd

Sunrise Credit Union

Norfolk Branch

Federal
No. of Hourly Hours Overtime
Name Regular Pay Gross Pay Taxable Pay Withholding FICA Net Pay Assumptions
Dependents Wage Worked Pay
Tax
Abram 2 $9.95 48 398 119.4 517.4 $ 417.40 0.25 39.5811 $ 373.47 Base Work Hours 40
Acosta 1 $9.55 48 382 114.6 496.6 $ 446.60 0.25 37.9899 $ 346.96 Overtime rate 1.5
Bordeaux 3 $11.75 50 470 176.25 646.25 $ 496.25 0.28 49.438125 $ 457.86 FICA rate 7.65%
Higinbotham 1 $11.75 35 411.25 0 411.25 $ 361.25 0.25 31.460625 $ 289.48 Deduct per Depend $ 50.00
Ianziti 1 $10.00 40 400 0 400 $ 350.00 0.25 30.6 $ 281.90
Jaussi 1 $9.55 44 382 57.3 439.3 $ 389.30 0.25 33.60645 $ 308.37
Ling 3 $15.75 40 630 0 630 $ 480.00 0.28 48.195 $ 447.41 Taxable Pay Tax Rate
Munoz 2 $12.25 20 245 0 245 $ 145.00 0.15 18.7425 $ 204.51 $0 15%
Riley 3 $13.35 38 507.3 0 507.3 $ 357.30 0.25 38.80845 $ 379.17 $250 22%
Sabey 2 $10.00 45 400 75 475 $ 375.00 0.25 36.3375 $ 344.91 $300 25%
Trujillo 1 $9.95 15 149.25 0 149.25 $ 99.25 0.15 11.417625 $ 122.94 $450 28%
Weston 2 $11.75 41 470 17.625 487.625 $ 387.63 0.25 37.303313 $ 353.42 $525 31%

Notes
Summary
1. The base workweek is 40 hours. Regular pay is based on hourly wage and hours worked up to 40. Statistics # of Hours Gross Pay Net Pay
2. Overtime pay is based on overtime hours, the hourly wage, and the overtime rate. Average
3. The gross pay is the total of the regular pay and overtime pay. Highest
4. The taxable pay is the difference between the gross pay and the product of the number of dependents and deduction per dependent. Lowest
5. Federal withholding tax is calculated on the taxable pay based on the tax table.
6. FICA is calculated on the employee's gross pay.
7. The net pay is based on the difference of gross pay with FICA, and the product of taxable pay and federal withholding tax.

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