Tami strand’s regular hourly wage rate is $10, and she receives an hourly rate of $20 for work in excess of 40 hours. during a january pay period, tami works 50 hours. tami’s federal income tax withholding is $88, and she has no voluntary deductions. assume that the fica tax rate is 7.65%.
compute tami strand’s gross earnings and net pay for the pay period.

Gross earnings = $600

Net pay = $466.10

Explanation:

The computation of the gross earnings and the net pay is shown below:

Gross earnings

40 hours × $10 = $400

10 hours × $20 = $200

So, the total = $600

Since tami worked for 50 hours, 10 hours extra so $20 is paid for 1 hours extra. So, for 10 hours it would be $200

Net pay

Gross earnings                                     $600

less: federal income tax withholding   -$88

Less: FICA tax rate @7.65% on $600 - $45.90

Net pay                                                    $466.10

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