Response to the following problem:
Rick Davis, an employee of ABC Motors, worked 42 hours during the week of September 12 through 18. His rate of pay is $30 per hour, and he receives time-ahalf for work in excess of 40 hours per week. Rick is married and claims zero allowances on his W-4 form.
Rick's YTD earnings before this pay period are $47,250, and his wages are subject to the following deductions:
a. Federal income tax (use the table in Figure 3, pages 302-303).
b. Social Security tax at 4.2 percent, with a wage limit of $106,800.
c. Medicare tax at 1.45 percent.
d. Medical insurance premium (after tax), $75.
e. United Way contribution, $25.
Required:
Compute Rick's regular pay, overtime pay, gross pay, and net pay.