Gross Pay, Deductions, and Net Pay Donald Chin works for Northwest Supplies. His rate of pay is $11.00 per hour, and he is paid 1 times the regular rate for all hours worked in excess of 40 per week. During the last week of January of the current year, he worked 48 hours. Chin is married and claims three withholding allowances on his W-4 form. His weekly wages are subject to the following deductions: a. Employee federal income tax (Tax Tables: Refer to Figure 8-4 in the text.) b. Social Security tax at 6.2% c. Medicare tax at 1.45% d. Health insurance premium, $80 e. Credit union, $120 f. United Way contribution, $10 Required: 1. Compute Chin's regular pay, overtime pay, gross pay, and net pay. If required, round your intermediate and final answers to the nearestent Regular pay Overtime pay Gross pay Net pay 2. Journalize the payment of his wages for the week ended January 31, crediting Cash for the net amount. Page: 1 DOC. POST DATE ACCOUNT TITLE DEBIT DEE CREDIT FIGURE 8-4 Federal Withholding Tax Table: (concluded) Married Persons MARRIED Persons-WEEKLY Payroll Period (For Wages Pald through December 31, 2018) And the wagos aro And the number of withholding allowances claimed is At least But loss 1 (2) 4 5 7 than The amount of income tax to be with holds 6 10 O 1 OS anata 8888 8888 88889 999 9985932853 B92 9285 8888 8888 88888 8884919*** 80000OOOOOOO-TOON 022888 SOOOOOOOOOOOOOOOOOOO - 22 SOOOOOOOOOOOOOOOOOOOOOOOOOOOOOON SOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO BOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO SOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO 80000OOOOOOOOOOOOOOOOOOOOOOOOOOOOOO E 725 735 745 755 76 ooooooooooooooooooooouom% % 0oooooooooooooooooooo0 % $ 382 ZB2B as a go oooooooooooooooooo ube 0000aa123 st7s2TUS w luol5 supDBP BDT ST 8 % 99999 h3 SSS89 38 22: 12 |-- 1 G 339 1 8 mmuuuuu Du 388% wn tuwng what am RETU