Part 2 of 3 Points: 0.16 of 1 Save Herman Simms works for a Parker's Burgers takeout for straight-time earnings of $15.50 per hour, with time and a half for hours in excess of 35 per week Simms' payroll deductions include income tax of 21 percent, CPP of 4.95 percent on earnings (account for the $3,500 basic annual exemption), and El of 1.66 percent on earnings In addition, he contributes $35 per week to his Registered Retirement Savings Plan (RRSP) Assume Simms worked 44 hours during the week He has not yet reached the CPP or El maximum earnings levels Required 1. Compute Simms' gross pay and net pay for the week 2. Make a compound general journal entry for June 14 to record the restaurant's wage expense for Simms' work, including his payroll deductions and the employer payroll costs Round all amounts to the nearest cent An explanation is not required Requirement 1. Compute Simms' gross pay and net pay for the week (Round all intermediary and final answers to the nearest cent.) Straight-time earnings for 35 hours Overtime pay for the next 9 hours Total gross pay Deductions Income tax Canada Pension Plan Employment Insurance premiums RRSP contribution Total deductions Net pay $ 542 50 209 25 751 75 157 87 14 48 35.00