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Please provide solutions to blank entries. Lenny Florita, an unmarried employee, works 46 hours in the week ended January 12. His pay rate is $14
Please provide solutions to blank entries.
Lenny Florita, an unmarried employee, works 46 hours in the week ended January 12. His pay rate is $14 per hour, and his wages have deductions for FICA Social Security, FICA Medicare, and federal income taxes. He clairns four withholding allowances. Compute his regular pay, overtime pay (Lenny eams $21 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 11A.6), total deductions, and net pay. Note: Round your intermediate calculations and final answers to 2 decimal places Step by Step Solution
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