Reference no: EM132406618

Question

How to find my net pay and calculate social security and medicare .

Accounting 120

Chapter 7: Employee Earnings and Deductions

Jennifer Ross, an employee of Hampton Company, worked 41 hours during the week of February 9 through 15. Her rate of pay is $22.80 per hour, and she receives time-and-a-half for work in excess of 40 hours per week. She is married and claims two allowances on her W-4 form. Her wages are subject to the following deductions:

Federal income tax (use the table in Figure 3).

Social Security tax at 6.2 percent.

Medicare tax at 1.45 percent.

Union dues, $31.00.

Compute Ross's regular pay.

Compute Ross's overtime pay. If required, round intermediate calculations to the nearest cent and use them in subsequent computations. Round final answer to the nearest cent.

Compute Ross's gross pay. If required, round intermediate calculations to the nearest cent and use them in subsequent computations. Round final answer to the nearest cent.

Compute Ross's net pay. If required, round intermediate calculations to the nearest cent and use them in subsequent computations. Round final answer to the nearest cent.