Kathy Burnett works for Triumph Industries. Her pay rate is $13.38 per hour and she receives overtime pay at one and one-half times her regular hourly rate for any hours worked beyond 40 in a week. During the pay period that ended December 31, 20X1, Kathy worked 47 hours. She is married and claims two withholding allowances on her W-4 form. Kathy's cumulative earnings prior to this pay period total $28,900. This week's wages are subject to the following deductions: 1. Social Security tax at 6.2 percent 2. Medicare tax at 1.45 percent 3. Federal income tax (use the withholding table shown in Figure 10.2b) 4. Health and disability insurance premiums, $160 5. Charitable contribution, $20 Required: 1. Compute Kathy's regular, overtime, gross, and net pay. 2. Assuming the weekly payroll has been recorded, journalize the payment of her wages for the week ended December 31. Analyze: Based on Kathy's cumulative earnings through December 31, how much overtime pay did she earn this year? Kathy's regular earnings were for 40 hours per week and 52 weeks during the year. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Analyze Compute Kathy's regular, overtime, gross, and net pay. (Round your intermediate calculations and final answers to 2 decimal places.) Employee Name Kathy Burnett Hourly Rate - Regular Hours $ 13.38 Hours Worked 47.00 Regular Time Pay $ 534.72 Overtime Pay 101.52 x Gross pay $ 636.24 Less: Social security tax 39.37 Medicare tax 9.23 Income tax withholding 587.64 X Health & disability Charitable contribution 160.00 20.00 Net pay $ (180.00) Required: 1. Compute Kathy's regular, overtime, gross, and net pay. 2. Assuming the weekly payroll has been recorded, journalize the payment of her wages for the week ended December 31. Analyze: Based on Kathy's cumulative earnings through December 31, how much overtime pay did she earn this year? Kathy's regular e were for 40 hours per week and 52 weeks during the year. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Analyze Assuming the weekly payroll has been recorded, journalize the payment of her wages for the week ended December 31. (Round your intermediate calculations and final answers to 2 decimal places.) No Date General Journal 1 Dec. 31 Office salaries expense Cash Employee income tax payable Medicare tax payable Debit Credit 636.24 407.64 49 160 x Social security tax payable 20 < Required 1 Analyze > Required: 1. Compute Kathy's regular, overtime, gross, and net pay. 2. Assuming the weekly payroll has been recorded, journalize the payment of her wages for the week ended December 31. Analyze: Based on Kathy's cumulative earnings through December 31, how much overtime pay did she earn this year? Kathy's regular earnings were for 40 hours per week and 52 weeks during the year. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Analyze Based on Kathy's cumulative earnings through December 31, how much overtime pay did she earn this year? Kathy's regular earnings were for 40 hours per week and 52 weeks during the year. (Round your intermediate calculations and final answers to 2 decimal places.) Cumulative earnings Add: Gross pay Gross pay for the year Less: Regular pay Overtime pay for the year 29,536.24 x $ 29,536.24 4,275.84 x $ 25,260.40 < Required 2 Analyze >