Question
3. Joy Lees regular hourly wage rate is $15, and she receives a wage of 2 times the regular hourly rate for work in excess
3. Joy Lees regular hourly wage rate is $15, and she receives a wage of 2 times the regular hourly rate for work in excess of 40 hours. During a June weekly pay period, Joy worked 50 hours. Joys federal income tax withholding is $90 and state income tax is $25 and FICA is 8%. Her only voluntary deduction is for retirement savings at $30 per week. Compute the following amounts for Joys wages for the current week.
1. Gross earnings
2. FICA taxes
3. Net Pay
4. Prepare the journal entry for Joys pay.
# | Account Titles and Explanation | Ref | Debit | Credit |
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