Question

Stephen earns $11 per hour at his job. Last month, Stephen worked for 112 hours. On his paycheck, Stephen noticed that he paid $216.05 for federal income tax, $76.38 for Social Security, and $17.86 for Medicare. Explain how to find Stephen's net income. WRITER

Answer 1

Answer: Stephen's net income is $921.71

Step-by-step explanation:

Hi, to answer this question, first, we have to multiply the amount of hours worked (112) by 11 (because he earns $11 per hour)

Mathematically speaking:

112 x 11 = $1,232

Now we have to sum the federal income tax ($216.05),Social Security ($76.38), and Medicare ($17.86) to obtain the total expenditures:

Total expenditures: $216.05 +$76.38 +$17.86 = $310.29

Finally we subtract the total expenditures ($310.29) to Stephen's revenue ($1,232) to obtain Stephen's net income.

Net income = 1,232 - 310.29 =921.71

Stephen's net income is $921.71