Calculate gross and net pays and show the entry necessary for employers to record wage expense

Ron works tor the local supermarket. Rons pay is $9 per hour for the first forty hours each week. He receives time-and-a-half for any hours he works over forty. Rons income tax withholding is 15% of gross pay for the federal government and 5% for the state. He also pays the FICA tax of 7.65% of his gross pay. Rons employer pays mandatory union dues of $30, his share of the company-supplemented health insurance premium of $55, and a voluntary donation to a local charity of $35 directly from Rons pay. Ron was looking forward to his paycheck this week since he had worked a total of 48 hours. 1 le was excited about having some cash left over after making his car and rent payments. Required: Calculate Rons gross and net pays. How excited should Ron be? Show the entry necessary for Rons employer to record wage expense. Show Rons firms entries necessary to record its payroll tax expenses (assume normal employer FICA and federal and state unemployment taxes). Rons firm pays $60 toward his health insurance premium as a fringe benefit. They also contribute $30 per week to a pension plan. Show Rons firm's entries necessary to record its employee fringe benefit expense. How much total money does Rons company pay him for his work? Compare this to the amount Ron gets at the end of the week as calculated in requirement 1. Ron works tor the local supermarket. Rons pay is $9 per hour for the first forty hours each week. He receives time-and-a-half for any hours he works over forty. Rons income tax withholding is 15% of gross pay for the federal government and 5% for the state. He also pays the FICA tax of 7.65% of his gross pay. Rons employer pays mandatory union dues of $30, his share of the company-supplemented health insurance premium of $55, and a voluntary donation to a local charity of $35 directly from Rons pay. Ron was looking forward to his paycheck this week since he had worked a total of 48 hours. 1 le was excited about having some cash left over after making his car and rent payments. Required: Calculate Rons gross and net pays. How excited should Ron be? Show the entry necessary for Rons employer to record wage expense. Show Rons firms entries necessary to record its payroll tax expenses (assume normal employer FICA and federal and state unemployment taxes). Rons firm pays $60 toward his health insurance premium as a fringe benefit. They also contribute $30 per week to a pension plan. Show Rons firm's entries necessary to record its employee fringe benefit expense. How much total money does Rons company pay him for his work? Compare this to the amount Ron gets at the end of the week as calculated in requirement 1