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Bethany’s regular hourly wage rate is $12, and she receives an hourly rate of $18 for work in excess of 40 hours. During a January pay period, Bethany works 50 hours. Bethany’s federal income tax withholding is $99, and she has no voluntary deductions. Compute Bethany’s gross earnings and net pay for the pay period. Assume that the FICA tax rate is 7.65%.

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Answer and Explanation:

The computation of the gross earnings and the net pay is shown below;

Gross pay = Regular pay + Overtime pay

= (40 × $12) + (50 - 40) × $18

= $480 + $180

= $660

 Net pay = Gross pay - FICA taxes - Federal income taxes withholding

= $660 - ($660 × 7.65%) - $99

= $510.51

Hence, the same is to be considered and relevant