Question
Kathy Burnett works for Triumph Industries. Her pay rate is $12.60 per hour and she receives overtime pay at one and one-half times her regular
Kathy Burnett works for Triumph Industries. Her pay rate is $12.60 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 43 hours. She is married and claims three withholding allowances on her W-4 form. Kathys cumulative earnings prior to this pay period total $27,600. This weeks wages are subject to the following deductions:
- Social Security tax at 6.2 percent
- Medicare tax at 1.45 percent
- Federal income tax (use the withholding table shown in Figure 10.2b)
- Health and disability insurance premiums, $147
- Charitable contribution, $20
Required:
- Compute Kathys regular, overtime, gross, and net pay.
- Assuming the weekly payroll has been recorded, journalize the payment of her wages for the week ended December 31.
i need help for this section analyze
Analyze: Based on Kathys cumulative earnings through December 31, how much overtime pay did she earn this year?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started