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Lenny Florita, an unmarried employee, works 50 hours in the week ended January 12. His pay rate is $12 per hour, and his wages have
Lenny Florita, an unmarried employee, works 50 hours in the week ended January 12. His pay rate is $12 per hour, and his wages have deductions for FICA Social Security, FICA Medicare, and federal income taxes. He claims four withholding allowances. Compute his regular pay, overtime pay (Lenny earns $18 per hour for each hour over 40 per week), and gross pay. Then compute his FICA tax deduction (6.2% for the Social Security portion and 1,45% for the Medicare portion), income tax deduction (use the wage bracket withholding table from Exhibit 9A,6), total deductions, and net pay. (Round your intermediate calculations and final answers to 2 decimal places.)
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