QUESTION 37 Regarding net pay, which of the following statements is incorrect? A) The net pay amount is not important for accounting purposes. B) The amount of compensation that the employee actually takes home is net pay. The employer either writes a paycheck to each employee for his or her net pay or directly deposits the employee's net pay into the employee's bank account D) Net pay equals gross pay minus all deductions QUESTION 38 Hank earns $24.00 per hour with time-and-a-half for hours in excess of 40 per week. He worked 50 hours at his job during the first week of March 2018. Hank pays income taxes at 15 and 7.65 for OASDI and Medicare. All of his income is taxable under FICA Determine Hank's net pay for the week. (Do not round any intermediate calculations and round your final answer to the nearest cent.) A) $1122.00 B) $1021.02 C) $835.80 D) $799.80 QUESTION 39 Brad's gross pay for the month is 515,400. His deduction for federal income tax is based on a rate of 18%. He has no voluntary deductions. His year-to-date pay is under the time for CASE Wats Brad's net pay? (Assume a FICA OASDI Tax of 6.2% and FICA-Medicare Tax of 1.459. Do not round any intermediate calculations, and round your final answer to the nearest dollar) A) $11.450 B) $15.400 C) $14,222 D) 512.628 QUESTION 40 Sean's gross pay for this month is 58750. His gross year to-date payprior to this month totaled $112.000. Sean's rate for federal income tax is 25. His voluntary deductions total 950 Wat is Sean's net pay? Assume an OASDI rate of 6.2 applicable on the first 5118.500 earnings and a Medicare rate of 145, applicable on alarnings. Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar A) 5603262 8) 55612.50 56562.50 D) 5508262