Tony makes an hourly salary of $11.50 for 40 regular hours of work. For any time worked beyond 40 hours, he is paid at a rate of time and a half per hour. Last week, Tony worked 46 hours. Find each of the following for this period. Tony’s gross pay. Social Security Tax (6.2%) Medicare tax (1.45%)

Part (1):
We are given that:
Tony is paid $11.5 per hour for the first 40 hours of work
Tony is paid 1.5 * 11.5 = $17.25 for each hour beyond the 40 hours.
We know that last week he worked 46 hours.
This means that:
he got the normal payment of $11.5 for the first 40 hours
he got the special payment of $17.25 for the extra 6 hours
Therefore:
Total amount he gained = 40(11.5) + 6(17.25) = $563.5
This means that, before removing any taxes or insurances, Tony had a payment of $563.5

Part (2):
We know that the social security tax is 6.2% of the amount he gained.
This means that:
social security tax = 6.2% * 563.5
social security tax = 0.062 * 563.5
social security tax = $34.937

Part (3):
We know that the medicare tax is 1.45% of the amount he gained.
This means that:
medicare tax = 1.45% * 563.5
medicare tax = 0.0145 * 563.5
medicare tax = $8.17075

Part (4):
To get the amount that Tony has after all the taxes, we will subtract the amount of taxes from what he originally gained as follows:
final amount gained = 563.5 - (34.937+8.17075)
final amount gained after taxes = $520.39225

Hope this helps :)