Question: Exercise 9-20A (Static) Computing gross and net pay LO P5 Lenny Florita, an unmarried employee, works 48 hours in the week ended January 12 .

Exercise 9-20A (Static) Computing gross and net pay LO P5 Lenny Florita, an unmarried employee, works 48 hours in the week ended January 12 . His pay rate is $14 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 $21 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.)

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