Question: Tony Newbern, an unmarried employee, works 48 hours in the week ended January 12. His pay rate is $12 per hour, and his wages are subject to no deductions other than FICA-Social Security, FICA- Medicare, and federal income taxes. He claims two withholding allowances. Compute his regular pay, overtime pay (for this company, workers earn 150% of their regular rate for hours in excess of 40 per week), and gross pay. Then compute his FICA tax deduction (use 6.2% for the Social Security portion and 1.45% for the Medicare portion), income tax deduction (use the wage bracket withholding table of Exhibit 11A.6), total deductions, and net pay. (Round tax amounts to the nearest cent.)