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1 Alexander Wilson operates Metroplex Courier and Delivery Service. He has four employees who are paid on an hourly basis. During the work week beginning December 15 and ending December 21, 2016, his employees worked the number of hours shown below. Information about their hourly rates, marital status, and withholding allowances also appears below, along with their cumulative earnings for the year prior to the December 15-21 payroll period. Consider any hours worked beyond 40 in the week as overtime hours and overtime pay at one and one half times their regular hourly rate. Ints eBook Print eferences Employee Gloria Bahamon Alex Garcia Ron Price Sara Russell Hours Regular Marital Withholding Cumulative Worked Hourly Rate Status Allowances Earnings 47 $ 15.50 M 4 $32,730 43 27.20 S 1 57170 49 25.60 M 53,842 40 12.50 S 26,490 Ow= 2-6.Compute the regular, overtime, gross earnings: social security tax and Medicare tax to be withheld from each employee's earnings. Assume a 6.2 percent social security rate on the first $113,700 earned by the employee during the year. Assume a 1.45 percent Medicare tax rate on all salaries and wages earned by the employee during the year. Determine the amount of federal income tax to be withheld from each employee's total earnings. (Use the table shown in Eigure 10.2A & Figure 102B Prey 1 of 1 Next Check my work 1 points 2-6.Compute the regular overtime, gross earnings, social security tax and Medicare tax to be withheld from each employee's earnings. Assume a 6.2 percent social security rate on the first $113,700 eated by the employee during the year. Assume a 145 percent Medicare tax rate on all salaries and wages earned by the employee during the year Determine the amount of federal income tax to be withheld from each employee's total earnings (Use the table shown in Egure 102A & Egure 10.28 whichever is applicable) to determine the withholding for Russell. Withholdings for Bahamon is $103.00, $308.00 for Garcia, and $246.00 for Price. Finally compute the net amount due of each employee (Bahamon and Russell are office workers. Garcia and Price are delivery workers.) (Round your intermediate calculations and final answers to 2 decimal places.) eBook Print References and Dec 21, 2016 Payroll Register Week Beginning: December 15, 2016 Einnings Regular Cumulative Dvertime Grans warnings morning arnings earings And ending: December 21, 2016 Table wiges Deduction Social Medicare Social Security Inicom Omice Employee Gloria Bahamon Alex Garcia Ron Price Sara Russel 1 8&9.Prepare a general journal entry to record the payroll expenses for the week ended December 21, and December 23, 2016. (Round your intermediate calculations and final answers to 2 decimal places.) 3 points View transaction list eBook Journal entry worksheet Print References
