E11-18 (similar to) Question Help Hugh Smith manages a Frosty Boy drive-in. His straight-time pay is $9 per hour, with time-and-a-half for hours in excess of 40 per week. Smith's payroll deductions include withheld income tax of 20%, FICA tax, and a weekly deduction of $10 for a charitable contribution to United Way. Smith worked 54 hours during the week. (Click the icon to view payroll tax rate information.) Requirements 1. Compute Smith's gross pay and net pay for the week. Assume earnings to date are $15,000. 2. Journalize Frosty Boy's wages expense accrual for Smith's work. An explanation is not required. 3. Journalize the subsequent payment of wages to Smith. Requirement 1. Compute Smith's gross pay and net pay for the week. Assume earnings to date are $15,000. (Round all amounts to the nearest cent.) Begin by computing Smith's gross pay for the week. More Info Gross Pay For all payroll calculations, use the following tax rates and round amounts to the nearest cent: Employee Employer: OASDI: 6.2% on first $117,000 earned; Medicare: 1.45% up to $200,000, 2.35% on earnings above $200,000 OASDI: 6.2% on first $117,000 earned; Medicare: 1.45% on all earnings, FUTA: 0.6% on first $7,000 earned; SUTA: 5.4% on first $7,000 earned. Print Done Choose from any list or enter any number in the input fields and then click Check Answer. parts Clear All Check