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Hank earns​ $18.50 per hour with timeandahalf for hours in excess of 40 per week. He worked 44 hours at his job during the first week of​ March, 2024. Hank pays income taxes at​ 15% and​ 7.65% for OASDI and Medicare. All of his income is taxable under FICA. Determine​ Hank's net pay for the week.​ (Do not round any intermediate​ calculations, and round your final answer to the nearest​ cent.)

Hank earns​ $18.50 per hour with timeandahalf for hours in excess of 40 per week. He worked 44 hours at his job during the first week of​ March, 2024. Hank pays income taxes at​ 15% and​ 7.65% for OASDI and Medicare. All of his income is taxable under FICA. Determine​ Hank's net pay for the week.​ (Do not round any intermediate​ calculations, and round your final answer to the nearest​ cent.)

College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
12th Edition
ISBN:9781305084087
Author:Cathy J. Scott
Publisher:Cathy J. Scott
Chapter7: Employee Earnings And Deductions
Section: Chapter Questions
Problem 2E
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Hank earns​ $18.50 per hour with timeandahalf for hours in excess of 40 per week. He worked 44 hours at his job during the first week of​ March, 2024. Hank pays income taxes at​ 15% and​ 7.65% for OASDI and Medicare. All of his income is taxable under FICA. Determine​ Hank's net pay for the week.​ (Do not round any intermediate​ calculations, and round your final answer to the nearest​ cent.)
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