Cxy Place Move Theaters has four employees and pays them on an hourly basis. During the week beginning June 24 and ending June 30, these employees worked the hours shown below. Information about hourly rates, marital status, withholding allowances, and cumblative earnings prior to the current pay period also appears below. Consider any hours worked beyond 40 in the week as cvertime hours and overtime pay ot one and one-half times their regular hourly rate. Required: 1. Enter the basic payroll information for each employee in a payroll register. Record the employee's name, number of withholding allowances, marital status, total and overtime hours, ond regular hourly rate. Note; 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 2. Compute the regular, overtime, and gross earnings for each employee. Enter the figures in the payroll register. 3. Compute the amount of social security tax to be withheld from each employee's earnings. Assume a 6.2 percent socia' security rate on the first $122,700 earned by the employee during the year. Enter the figures in the payroll register. 4. Compute the amount of Medicare tax to be withheid from each employee's earnings. Assume a 1,45 percent Medicare tax rate on all salaries and wages eamed by the employee during the year. Enter the figures in the payroll register. 5. Determine the amount of federal income tax to be withheld from each employee's total earnings. Use the tax tables in Figure 10.20 \&. Egure 10.2h. Enter the figures in the payroll register. 6. Compute the net pay of each employee and enter the figures in the payroll register. 7. Prepare a general journal entry to record the paytoll for the week ended June 30 . 8. Record the general journal entry to summarize payment of the payroll on July 3. Compute the reguiac, overtime, gross eamings, social security rax and Medicare tax to be withheld from each ernployee's earnings, Assume a 6.2 percent social security eamed by the empleyee during the year. Assume a 1.45 percent Medicare tax rate on all salaries and wages earned by the employee during the yeac. Determine the ame withheld from each employee) total carnings. (Use the table shown in Figure 10.2A \& Figure 10.2B whichever is applicable), Finally compute the net pay of each empl intermediate caiculations and final answers to 2 decimal ploces.) 1, gross eamings, 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 $122,700 7 the year. Assume a 1.45 percent Medicare tax rote on all salaries and wages eamed by the employee during the year. Determine the amount of federal income tax to be find answers to 2 decimal places.) gross earnings, social security tax and Medicare tax to be withheld from each employee's earnings. Assume a 6.2 percent social security rat the year. Assume a 1.45 percent Medicare tax rate on all salaries and wages earned by the employee during the year. Determine the amour 5 total earnings. (Use the table shown in Figure 10.2A \& Figure 10.28 whichever is applicable). Finally compute the net pay of each employ final answers to 2 decimal places.) Complete this question by entering your answers in the tabs below. Prepare a general journal entry to record the payroli expenses and also summarize payment of the payroll for the week ended June 30 , and July 3. (Round your intermediate calculations and final answers to 2 decimal places.) Journal entry worksheet Record the company's payroll to be paid at a later date. Note: Enter debits before credits Required: 1. Enter the basic payroll information for each employee in a payroll register. Record the employee's name, number of withhold allowances, marital status, total and overtime hours, and regular hourly rate. Note: Consider any hours worked beyond 40 in week as overtime hours and overtime pay at one and one-half times their regular hourly rate 2. Compute the regular, overtime, and gross eamings for each employee. Enter the figures in the payroll register. 3. Compute the amount of social security tax to be withheld from each employee's earnings. Assume a 6.2 percent social secu on the first $122,700 eamed by the employee during the year. Enter the figures in the payroll register. 4. Compute the amount of Medicare tax to be withheld from each employee's earnings. Assume a 1.45 percent Medicare tax ra salaries and wages earned by the employee during the year. Enter the figures in the payroll register. 5. Determine the amount of federal income tax to be withheld from each employee's total earnings. Use the tax tables in Figure \& Equre 10.2b. Enter the figures in the payroll register. 6. Compute the net pay of each employee and enter the figures in the payroll register. 7. Prepare a general journal entry to record the payroll for the week ended June 30 . 8. Record the general journal entry to summarize payment of the payroll on July 3 . Analyze: What are Andy Anderson's cumulative earnings on June 30, 20X1? Complete this question by entering your answers in the tabs below. What are Andy Anderson's cumulative earnings on June 30 ? (Round your intermediate calculations and final answer to 2 decimal places.)