computing net pay quiz\nkerry worked 49 hours last week. his hourly rate is $15. he has the following…

computing net pay quiz\nkerry worked 49 hours last week. his hourly rate is $15. he has the following deductions taken from his pay: federal income tax at the rate of 10 percent, social security tax at the rate of 6.2 percent, medicare tax at the rate of 1.45 percent, health insurance premiums of $50, and union dues of $12. kerry’s net pay for last week was.\ntotal gross pay \ntotal deductions \ntotal net pay \nfederal income tax: 10%\nsocial security : 6.2%\nmedicare tax : 1.45%\nhealth insurance:$50\nunion :$12

computing net pay quiz\nkerry worked 49 hours last week. his hourly rate is $15. he has the following deductions taken from his pay: federal income tax at the rate of 10 percent, social security tax at the rate of 6.2 percent, medicare tax at the rate of 1.45 percent, health insurance premiums of $50, and union dues of $12. kerry’s net pay for last week was.\ntotal gross pay \ntotal deductions \ntotal net pay \nfederal income tax: 10%\nsocial security : 6.2%\nmedicare tax : 1.45%\nhealth insurance:$50\nunion :$12

Answer

Explanation:

Step1: Calculate gross pay

$49\times15 = 735$

Step2: Calculate federal income - tax deduction

$735\times0.1=73.5$

Step3: Calculate Social - Security tax deduction

$735\times0.062 = 45.57$

Step4: Calculate Medicare tax deduction

$735\times0.0145 = 10.6575$

Step5: Calculate total deductions

$73.5 + 45.57+10.6575 + 50+12=191.7275$

Step6: Calculate net pay

$735−191.7275 = 543.2725\approx543.27$

Answer:

$543.27$