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Exercise 9-18A Computing gross and net pay LO P5 Lenny Florita, an unmarried employee, works 46 hours in the week ended January 12. His pay rate is $13 per hour, and his wages have deductions for FICA Social Security, FICA Medicare, and federal income taxes. He claims two withholding allowances. Compute his regular pay, overtime pay (Lenny earns $20 per hour for each hour over 40 per week), and gross pay. Then compute his FICA tax deduction (6.2% for the Social Security portion and 1.45% for the Medicare portion), income tax deduction (use the wage bracket withholding table from Exhibit 9A.6), total deductions, and net pay. (Round your intermediate calculations and final answers to 2 decimal places.) Hours Hourly Rate Regular pay Overtime pay Gross pay 40 13.00 520.00 24 22.00 132.00 652.00 FICA-Social Security tax deduction 39.68 FICA-Medicare tax deduction 9.28 45.00 ) Income tax deduction Total deductions 93.96 Net pay 2$ 546.04 *Red text indicates no response was expected in a cell or a formula-based calculation is incorrect, no points deducted. 9A.6 SINGLE PersonsWEEKLY Payroll Period age Bracket "ithholding Table If the wages are- And the number of withholding allowances clalmed is- At least But less 10 than The amount of income tax to be withheld is- $600 610 620 630 640 650 660 670 680 690 $610 620 630 640 650 $76 79 81 84 86 89 91 94 96 99 $67 69 70 72 73 $58 59 61 62 64 $49 50 52 53 55 $39 41 42 44 45 $30 32 $21 22 24 25 27 $12 13 15 16 18 $6 $0 $0 35 36 660 670 680 690 700 75 76 78 81 83 86 88 91 93 96 65 56 47 48 38 61 62 51 53 700 710 720 730 740 710 720 730 740 750 101 104 106 109 64 65 54 56 68 70 59 60 78 80 31 33 11 51 42 14 8

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