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L. Mónica worked 60 hours (20 hours were overtime-she

L. Mónica worked 60 hours (20 hours were overtime-she

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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1. Mónica worked 60 hours (20 hours were overtime-she is paid 1.5 for that). Her regular wage is $20 per hour. She donates $200 to charity. What is her net pay, when deductions (FICA) have already been made? 2.Michael works 46 hours, of which 6 hours were overtime. His regular wage is $12/hour; overtime is paid at 1.5 that rate. What's Michael gross pay? Michael works 46 hours, of which 6 hours were overtime. His regular wage is $12/hour; overtime is paid at 1.5 that rate. What's Michael gross pay? a-$300.00 b-$588.00 c-$788.00 d-$480.00 3. If an employee's gross pay is $2256.00, how much is the FICA tax deduction?
Transcribed Image Text:1. Mónica worked 60 hours (20 hours were overtime-she is paid 1.5 for that). Her regular wage is $20 per hour. She donates $200 to charity. What is her net pay, when deductions (FICA) have already been made? 2.Michael works 46 hours, of which 6 hours were overtime. His regular wage is $12/hour; overtime is paid at 1.5 that rate. What's Michael gross pay? Michael works 46 hours, of which 6 hours were overtime. His regular wage is $12/hour; overtime is paid at 1.5 that rate. What's Michael gross pay? a-$300.00 b-$588.00 c-$788.00 d-$480.00 3. If an employee's gross pay is $2256.00, how much is the FICA tax deduction?
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