Question

Garvin earned $ 948.35 in net pay for working 24 hours. He paid $ 348.26 in federal and state taxes, and $ 145.06 in FICA taxes. What is Garrett's hourly wage? Round your answer to two decimal places. If answer doesn't have two decimal places include zeros to make two decimal places. For the units, use a word not a symbol. Be sure to attach your work to this question in order to receive credit for your answer.Your Answer:units:

Answer 1

Garvin's hourly wage is calculated by first determining his gross pay, which equals his net pay plus all taxes paid. The gross pay is then divided by the total hours worked, resulting in an hourly wage of $60.07 when rounded to two decimal places.

Step-by-step explanation:

To calculate Garrett's hourly wage, we first determine his total gross pay before taxes. Since we know Garvin's net pay (after taxes) and the amount of taxes paid, we can add these figures together to get his gross pay.

Gross Pay = Net Pay + Federal and State Taxes + FICA Taxes
Gross Pay = $948.35 + $348.26 + $145.06
Gross Pay = $1,441.67

Now, we divide the gross pay by the total hours worked to find Garvin's hourly wage.

Hourly Wage = Gross Pay / Hours Worked
Hourly Wage = $1,441.67 / 24 hours
Hourly Wage = $60.0695833

When rounding to two decimal places, Garvin's hourly wage would be $60.07.

Therefore, Garvin's hourly wage is $60.07 per hour.

Answer 2

18.96 dollars per hour

STEP-BY-STEP EXPLANATION:

The 24-hour salary is calculated with the earnings and we subtract the taxes, as follows:

`\begin{gathered} s=948.35-348.26-145.06 \\ s=455.03 \end{gathered}`

Now, we divide by 24 to find out Garvin's hourly wage:

`\begin{gathered} h=(455.03)/(24) \\ h=18.96 \end{gathered}`

Therefore, the hourly wage is $18.96.