John Doe is married and claims 3 withholding allowances. He collects overtime pay, when he work over 40 hours in a week. If his gross pay is $1,306.88, determine his weekly net earnings. Use the following deductions: FWT (Percentage Method), FICĂ 6.2%, Medicare 1.45%, SDI 1%, Health Insurance (/week), Union Dues (4.50/week), and Trust Fund (95/week).

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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John Doe is married and claims 3 withholding
allowances. He collects overtime pay, when
he work over 40 hours in a week. If his gross
pay is $1,306.88, determine his weekly net
earnings. Use the following deductions: FWT
(Percentage Method), FICA 6.2%, Medicare
1.45%, SDI 1%, Health Insurance (/week),
Union Dues (4.50/week), and Trust Fund
(95/week).
Transcribed Image Text:John Doe is married and claims 3 withholding allowances. He collects overtime pay, when he work over 40 hours in a week. If his gross pay is $1,306.88, determine his weekly net earnings. Use the following deductions: FWT (Percentage Method), FICA 6.2%, Medicare 1.45%, SDI 1%, Health Insurance (/week), Union Dues (4.50/week), and Trust Fund (95/week).
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