Thomas Martin receives an hourly wage rate of $20, with time-and-a-half pay for all hours worked in excess of 40 hours during a week. Payroll data for the current week are as follows: hours worked, 42; federal income tax withheld, $361; social security tax rate, 6.0%; and Medicare tax rate, 1.5%. What is the gross pay for Martin? Round your answer to the nearest whole dollar. a.$1,260 b.$860 c.$840 d.$1,680

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Thomas Martin receives an hourly wage rate of $20, with time-and-a-half pay for all hours worked in excess of 40 hours during a week. Payroll data for the current week are as follows: hours worked, 42; federal income tax withheld, $361; social security tax rate, 6.0%; and Medicare tax rate, 1.5%. What is the gross pay for Martin?

Round your answer to the nearest whole dollar.

a.$1,260
b.$860
c.$840
d.$1,680
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