Coronado Corbin’s regular hourly wage rate is $16, and she receives an hourly rate of $24 for work in excess of 40 hours. During a January pay period, Coronado works 43 hours. Coronado’s federal income tax withholding is $96, and she has no voluntary deductions. The 7.65% FICA tax rate consists of the Social Security tax rate of 6.2% on salaries and wages up to $128,400 and the Medicare tax rate of 1.45% on all salaries and wages. Compute Coronado Corbin’s gross earnings and net pay for the pay period. (Round Intermediate calculation and final answers to 2 decimal places, e.g. 15.25.) Gross earnings   Net pay

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Chapter1: Financial Statements And Business Decisions
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Coronado Corbin’s regular hourly wage rate is $16, and she receives an hourly rate of $24 for work in excess of 40 hours. During a January pay period, Coronado works 43 hours. Coronado’s federal income tax withholding is $96, and she has no voluntary deductions. The 7.65% FICA tax rate consists of the Social Security tax rate of 6.2% on salaries and wages up to $128,400 and the Medicare tax rate of 1.45% on all salaries and wages.

Compute Coronado Corbin’s gross earnings and net pay for the pay period. (Round Intermediate calculation and final answers to 2 decimal places, e.g. 15.25.)

Gross earnings  
Net pay  
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