L. Mónica worked 60 hours (20 hours were overtime-she
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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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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