Stuck on something that seems so simple ? Compute PayrollAn employee earns $24 per hour and 1.75 times that rate for all hours in excess of 40 hours per week. Assume that the employee worked50 hours during the week. Assume further that the social security tax rate was 6.0%, the Medicare tax rate was 1.5%, and federal incometax to be withheld was $317.a. Determine the gross pay for the week.1,380 Vb. Determine the net pay for the week. Round your answer to two decimal places.1,050.58 XFeedbackCheck My WorkGross pay represents the total earnings of an employee for a specific pay period, prior to taxes and deductions. Net pay is also known as take-homeраy.30%-4°F5:58 AM12/17/2021F10F114.6.89R.GB.M0O

Solution:- a)Calculation of the gross pay for the week as follows:- =Normal wages + Overtime wages=(40 hours x $24) + (10 hours x ($24 x 1.75) =$960 + $420 =$1,380 Note:- Overtime wages rate is $24 x 1.75 times Overtime hours = 50 hours - 40 hours = 10 hoursb)Calculation of the Net pay for the week as follows:- Net pay = Gross pay - Federal income tax withheld - (6%+1.5%) = $1,380 - $317 - ($1,380 x 7.5%) = $1,380 - $317 - $103.50 = $959.5 I hope helpful to you.. If you are satisfied.. Support me.. Thank you..