Question: Exercise 9-20A (Algo) Computing gross and net pay LO P5 Lenny Florita, an unmarried employee, works 50 hours in the week ended January 12.

Exercise 9-20A (Algo) Computing gross and net pay LO P5 Lenny Florita, an unmarried employee, works 50 hours in the week ended January 12. His pay rate is $11 per hour, and his wages have deductions for FICA Social Security, FICA Medicare, and federal income taxes. He claims three withholding allowances. Compute his regular pay, overtime pay (Lenny earns $16 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.) > Answer is complete but not entirely correct. Hours Hourly Rate Regular pay 40 $ 11.00 $ 440.00 Overtime 10 $ 16.00 x 160.00 pay Gross pay FICA-Social Security tax deduction FICA-Medicare tax deduction Income tax deduction Total deductions Net pay 600.00 $ 37.20 x 8.70 x 49.00 94.90 $ 505.10 x

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