Computing Net Pay Mary Sue Guild works for a company that pays its employees 12 times the regular rate for all hours worked in excess of 40 per week. Guild's pay rate is $15.00 per hou Her wages are subject to deductions for federal income tax, Social Security tax, and Medicare tax. She is married and claims four withholding allowances. Guild has a 2- hour lunch break during an 82-hour day. Her time card is shown. Name Mary Sue Guild Week Ending March 30, 20-- Hours Worked Day In Out In Out Regular Overtime M 7:57 12:05 12:35 4:33 8 7:52 12:09 12:39 5:05 8. 1/2 7:59 12:15 12:45 5:30 1 8:00 12:01 12:30 6:31 8. 2 F 7:56 12:05 12:34 4:30 S 8:00 10:31 22 Complete the following for the week: 600 40 V regular hours x $15.00 per hour a. 6. V overtime hours x $22.50 per hour $4 135 b. $ 735 C. Total gross wages d. Federal income tax withholding 10.00 X (Tax Tables: Refer to Figure 8-4 in the text.) $ е. Social Security withholding at 6.2% $ 10 X f. Medicare withholding at 1.45% $ 71 X g. Total withholding $ 639 X h. Net pay

Computing Net Pay Mary Sue Guild works for a company that pays its employees 12 times the regular rate for all hours worked in excess of 40 per week. Guild's pay rate is $15.00 per hou Her wages are subject to deductions for federal income tax, Social Security tax, and Medicare tax. She is married and claims four withholding allowances. Guild has a 2- hour lunch break during an 82-hour day. Her time card is shown. Name Mary Sue Guild Week Ending March 30, 20-- Hours Worked Day In Out In Out Regular Overtime M 7:57 12:05 12:35 4:33 8 7:52 12:09 12:39 5:05 8. 1/2 7:59 12:15 12:45 5:30 1 8:00 12:01 12:30 6:31 8. 2 F 7:56 12:05 12:34 4:30 S 8:00 10:31 22 Complete the following for the week: 600 40 V regular hours x $15.00 per hour a. 6. V overtime hours x $22.50 per hour $4 135 b. $ 735 C. Total gross wages d. Federal income tax withholding 10.00 X (Tax Tables: Refer to Figure 8-4 in the text.) $ е. Social Security withholding at 6.2% $ 10 X f. Medicare withholding at 1.45% $ 71 X g. Total withholding $ 639 X h. Net pay

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter7: Employee Earnings And Deductions

Section: Chapter Questions

Problem 2E

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Computing Net Pay Tom Hallinan works for a company that pays its employees 1½ times the regular rate for all hours worked in excess of 40 per week. Hallinan's pay rate is $15 per hour. His wages are subject to deductions for federal income tax, Social Security tax, and Medicare tax. He is married and claims five withholding allowances. Hallinan has a 12-hour lunch break during an 8-hour day. His time card is shown. Name Tom Hallinan Week Ending March 30, 20- Hours Worked Day In Out In Out Regular Overtime M 7:55 12:02 12:32 5:33 8 1 T 7:59 12:04 12:34 6:05 8 1½ W 7:59 12:05 12:35 4:30 T 8:00 12:01 12:30 5:01 1/2 F 7:58 12:02 12:31 5:33 8 1 S 7:59 9:33 11/2 Complete the following for the week: regular hours x $15 per hour overtime hours x $22.50 per hour a. b. C. Total gross wages 000
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