Sandra Corbin’s regular hourly wage rate is $16, and she receives an hourly rate of $24 for work in excess of 40 hours. During a January pay period, Sandra works 50 hours. Sandra’s federal income tax withholding is $96, she has no voluntary deductions, and the FICA tax rate is 7.65%. Compute Sandra Corbin’s gross earnings and net pay for the pay period. (Round Intermediate calculation and final answers to 2 decimal places, e.g. 15.25.) Gross earnings   $enter a dollar amount rounded to 2 decimal places  Net pay   $enter a dollar amount rounded to 2 decimal places

Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
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Chapter12: Preparing Payroll Records
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Sandra Corbin’s regular hourly wage rate is $16, and she receives an hourly rate of $24 for work in excess of 40 hours. During a January pay period, Sandra works 50 hours. Sandra’s federal income tax withholding is $96, she has no voluntary deductions, and the FICA tax rate is 7.65%.

Compute Sandra Corbin’s gross earnings and net pay for the pay period. (Round Intermediate calculation and final answers to 2 decimal places, e.g. 15.25.)

Gross earnings
 
$enter a dollar amount rounded to 2 decimal places 
Net pay
 
$enter a dollar amount rounded to 2 decimal places 
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