Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Lenny Florita, an unmarried employee, works 48 hours in the week ended January 12. His pay rate is $12 per hour, and his wages have

image text in transcribed
Lenny Florita, an unmarried employee, works 48 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 three 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.) Hourly Rate Hours Regular pay Overtime pay Gross pay FICA-Social Security tax deduction FICA-Medicare tax deduction Income tax deduction Total deductions Nel pay

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Understanding Business Ethics

Authors: Peter A. Stanwick, Sarah D. Stanwick

3rd Edition

1506303234, 9781506303239

Students also viewed these Accounting questions