Susan Corbin's regular hourly wage rate is $20, and she receives an hourly rate of $30 for work in excess of 40 hours. During a January pay period, Susan works 50 hours. Susan's federal income tax withholding is $94, she has no voluntary deductions, and the FICA tax rate is 7.65%. Compute Susan 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 $ Net pay

Susan Corbin's regular hourly wage rate is $20, and she receives an hourly rate of $30 for work in excess of 40 hours. During a January pay period, Susan works 50 hours. Susan's federal income tax withholding is $94, she has no voluntary deductions, and the FICA tax rate is 7.65%. Compute Susan 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 $ Net pay

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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