Brief Exercise 10-5

Betsy Strands regular hourly wage rate is $32, and she receives an hourly rate of $48 for work in excess of 40 hours. During a January pay period, Betsy works 46 hours. Betsys federal income tax withholding is $87, and she has no voluntary deductions. Compute Betsy Strands gross earnings and net pay for the pay period. Assume that the FICA tax rate is 7.65%. (Round answers to 2 decimal places, e.g. 15.25.)