Question

find the regular earnings, overtime earnings, gross earnings, social security (fica) deduction at 6.2%, medicare deduction at 1.45%, and state disability (sdi) deduction at 1% for marvin parrera. at the end of this pay period marvin’s will still be below the fica and sdi maxima. he is paid at a time - and - a - half rate for hours in excess of 40.\
\

employee	hours	reg. rate	earnings - regular	earnings - overtime	earnings - gross	deductions - fica	deductions - medicare	deductions - sdi	\
----	----	----	----	----	----	----	----	----	\
parrera, m.	53.0	$8.20				$	$	$	\

\
what are marvin’s regular earnings?\
$ 328\
\
what are marvin’s overtime earnings?\
$ 159.90\
\
what are marvin’s gross earnings?\
$ 487.90\
\
what is marvin’s social security deduction?\
$ \boxed{} (round to the nearest cent.)

Explanation:

Step1: Identify gross earnings and FICA rate

Gross earnings = $487.90, FICA rate = 6.2% = 0.062.

Step2: Calculate FICA deduction

FICA deduction = Gross earnings × FICA rate = $487.90 × 0.062
$487.90×0.062 = 30.2498

Step3: Round to nearest cent

30.2498 rounded to nearest cent is 30.25.

Answer:

$30.25