Hank earns $21.00 per hour with time-and-a-half for hours in excess of 40 per week. He worked 50 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.) OA. $731.33 B. $981.75 OC. $893.39 OD. $699.82 ***
Hank earns $21.00 per hour with time-and-a-half for hours in excess of 40 per week. He worked 50 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.) OA. $731.33 B. $981.75 OC. $893.39 OD. $699.82 ***
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter7: Employee Earnings And Deductions
Section: Chapter Questions
Problem 2E
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Transcribed Image Text:Hank earns $21.00 per hour with time-and-a-half for hours in excess of 40 per week. He worked 50 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.)
OA. $731.33
OB. $981.75
OC. $893.39
D. $699.82
GID
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