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Lucinda Florita, an unmarried employee, works 48 h...

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Lucinda Florita, an unmarried employee, works 48 hours in the week ended January 12. Her pay rate is $14 per hour, and her wages are subject to no deductions other than FICA?Social Security, FICA?Medicare, and federal income taxes. She claims two withholding allowances. Required: Compute her regular pay, overtime pay (overtime premium is 50% of the regular rate for hours in excess of 40 per week), and gross pay. Then compute her FICA tax deduction (use 6.2% for the Social Security portion and 1.45% for the Medicare portion), income tax deduction (use the wage bracket withholding table in Exhibit 9.4), total deductions, and net pay. (Round your answers to 2 decimal places. Input all amounts as positive. Omit the "$" sign in your response.) Regular pay $ Overtime premium pay Gross pay FICA?Social Security tax deduction $ FICA?Medicare tax deduction Income tax deduction Total deductions Net pay $

 

Paper#3041 | Written in 18-Jul-2015

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