LucyLucy

RoseRose

works at College of

Fort WorthFort Worth

and is paid

$ 12$12

per hour for a 40-hour workweek and time-and-a-half for hours above 40.

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(Click the icon to view payroll tax rate information.)Read the requirements

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.Requirement 1. Compute

RoseRose's

gross pay for working

6060

hours during the first week of February.

Straight-time pay for 40 hours	480
Overtime pay for 20 hours	360
Gross Pay	840

Requirement 2.

RoseRose

is single, and her income tax withholding is

15 %15%

of total pay.

RoseRose's

only payroll deductions are payroll taxes. Compute

RoseRose's

net (take-home) pay for the week. Assume

RoseRose's

earnings to date are less than the OASDI limit. (Round all amounts to the nearest cent.)

Gross pay		840
Withholding deductions:
Employee income tax	126
Employee OASDI tax	52.08
Employee Medicare tax	12.18
Total withholdings		190.26
Net (take-home) pay		649.74

Requirement 3. Journalize the accrual of wages expense and the payments related to the employment of

LucyLucy

RoseRose.

(Record debits first, then credits. Select the explanation on the last line of the journal entry table.)Begin with the entry to accrue wages expense and payroll withholdings for

LucyLucy

RoseRose.

(Round all amounts to the nearest cent.)

Date			Accounts and Explanation	Debit	Credit
			Wages Expense	840
			Employee Income Taxes Payable		126
			FICA-OASDI Taxes Payable		52.08
			FICA-Medicare Taxes Payable		12.18
			Wages Payable		649.74
			To record wages expense and payroll withholdings.

Now record the entry to record the payment of wages to

LucyLucy

RoseRose.

(Round all amounts to the nearest cent.)

Date			Accounts and Explanation	Debit	Credit
			Wages Payable	649.74
			Cash		649.74
			To record payment of wages.

Choose from any list or enter any number in the input fields and then continue to the next question.

Compute

RoseRose's

gross pay for working

6060

hours during the first week of February.

2.

RoseRose

is single, and her income tax withholding is

15 %15%

of total pay.

RoseRose's

only payroll deductions are payroll taxes. Compute

RoseRose's

net (take-home) pay for the week. Assume

RoseRose's

earnings to date are less than the OASDI limit.

3.

Journalize the accrual of wages expense and the payments related to the employment of

LucyLucy

RoseRose.

For all payroll calculations, use the following tax rates and round amounts to the nearest cent:

Employee:	OASDI: 6.26.2% on first $ 118 comma 500$118,500 earned; Medicare: 1.451.45% up to $ 200 comma 000$200,000, 2.352.35% on earnings above $ 200 comma 000$200,000.
Employer:	OASDI: 6.26.2% on first $ 118 comma 500$118,500 earned; Medicare: 1.451.45% on all earnings; FUTA: 0.60.6% on first $ 7 comma 000$7,000 earned; SUTA: 5.45.4% on first $ 7 comma 000$7,000 earned.