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please do not use pen and paper and use the computer so that its easy to understand thank you! Accounting Principles E11.9 (LO 3) Maria
please do not use pen and paper and use the computer so that its easy to understand thank you!
Accounting Principles E11.9 (LO 3) Maria Garza's regular hourly wage rate is $16, and she receives a wage of 1% times the regular hourly rate for work in excess of 40 hours. During a March weekly pay period, Maria worked 42 hours. Her gross earnings prior to the current week were $6,000. Maria is married and claims three withholding allowances. Her only voluntary deduction is for group hospitalization insurance at $25 per week. Compute net pay and record pay for one employee. Instructions a. Compute the following amounts for Maria's wages for the current week. 1. Gross earnings. 2. FICA taxes. (Assume a 7.65% rate on maximum of $127,200.) 3. Federal income taxes withheld. (Use the Accounting Principles Her gross earnings prior to the current week were $6,000. Maria is married and claims three withholding allowances. Her only voluntary deduction is for group hospitalization insurance at $25 per week. Compute net pay and record pay for one employee. Instructions a. Compute the following amounts for Maria's wages for the current week. 1. Gross earnings. 2. FICA taxes. (Assume a 7.65% rate on maximum of $127,200.) 3. Federal income taxes withheld. (Use the withholding table in Illustration 11.11.) 4. State income taxes withheld. (Assume a 2.0% rate.) 5. Net pay. b. Record Maria's pay Step by Step Solution
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