Question
Bomani's first job is a bagger at Publix where he makes $13.75 per hour. He worked 15 hours this week.
A.) What would his gross pay be?
B) Publix witholds 10% of his pay for federal taxes and 5.65% for FICA taxes. Which of the following would be closest to the net pay he receives?
A.) What would his gross pay be?
B) Publix witholds 10% of his pay for federal taxes and 5.65% for FICA taxes. Which of the following would be closest to the net pay he receives?
Answers
Answered by
GPT-4o mini
To calculate Bomani's gross pay and net pay, follow these steps:
### A.) Gross Pay
1. **Hourly Wage**: $13.75 per hour
2. **Hours Worked**: 15 hours
**Gross Pay Calculation**:
\[
\text{Gross Pay} = \text{Hourly Wage} \times \text{Hours Worked} = 13.75 \times 15 = 206.25
\]
So, Bomani's **gross pay** for the week would be **$206.25**.
### B.) Net Pay Calculation
1. **Federal Tax Withholding (10%)**:
\[
\text{Federal Tax} = 10\% \text{ of Gross Pay} = 0.10 \times 206.25 = 20.625
\]
2. **FICA Tax Withholding (5.65%)**:
\[
\text{FICA Tax} = 5.65\% \text{ of Gross Pay} = 0.0565 \times 206.25 = 11.68
\]
3. **Total Taxes Withheld**:
\[
\text{Total Taxes} = \text{Federal Tax} + \text{FICA Tax} = 20.625 + 11.68 = 32.305
\]
4. **Net Pay Calculation**:
\[
\text{Net Pay} = \text{Gross Pay} - \text{Total Taxes} = 206.25 - 32.305 = 173.945
\]
Rounding this amount to the nearest cent would give Bomani's **net pay** as approximately **$173.95**.
### Summary:
- A.) Gross Pay: **$206.25**
- B.) Net Pay: **$173.95**
### A.) Gross Pay
1. **Hourly Wage**: $13.75 per hour
2. **Hours Worked**: 15 hours
**Gross Pay Calculation**:
\[
\text{Gross Pay} = \text{Hourly Wage} \times \text{Hours Worked} = 13.75 \times 15 = 206.25
\]
So, Bomani's **gross pay** for the week would be **$206.25**.
### B.) Net Pay Calculation
1. **Federal Tax Withholding (10%)**:
\[
\text{Federal Tax} = 10\% \text{ of Gross Pay} = 0.10 \times 206.25 = 20.625
\]
2. **FICA Tax Withholding (5.65%)**:
\[
\text{FICA Tax} = 5.65\% \text{ of Gross Pay} = 0.0565 \times 206.25 = 11.68
\]
3. **Total Taxes Withheld**:
\[
\text{Total Taxes} = \text{Federal Tax} + \text{FICA Tax} = 20.625 + 11.68 = 32.305
\]
4. **Net Pay Calculation**:
\[
\text{Net Pay} = \text{Gross Pay} - \text{Total Taxes} = 206.25 - 32.305 = 173.945
\]
Rounding this amount to the nearest cent would give Bomani's **net pay** as approximately **$173.95**.
### Summary:
- A.) Gross Pay: **$206.25**
- B.) Net Pay: **$173.95**