Required information Problem 9-24A Computation of net pay and payroll expense LO 9-5 [The following information applies to the questions displayed below) The following information is available for the employees of Webber Packing Company for the first week of January Year 1: 1. Kayla earns $24 per hour and 1/2 times her regular rate for hours over 42 per week. Kayla worked 50 hours the first week in January, Kayla's federal income tax withholding is equal to 11 percent of her gross pay. Webber pays medical Insurance of $70 per week for Kayla and contributes $51 per week to a retirement plan for her. 2. Paula earns a weekly salary of $1,200. Paula's federal income tax withholding is 20 percent of her gross pay. Webber pays medical insurance of $115 per week for Paula and contributes $120 per week to a retirement plan for her. 3. Vacation pay is accrued at the rate of 2 hours per week (based on the regular pay rate) for Kayla and $90 per week for Paula. Assume the Social Security tax rate is 6.0 percent on the first $110,000 of salaries and the Medicare tax rate is 15 percent of total salaries. The state unemployment tax rate is 5.4 percent and the federal unemployment tax rate is 0.6 percent of the first $7,000 of salary for each employee oblem 9-24A Part a week in January, Kayla's federal income tax withholding is equal to 11 percent of her gross pay. Webber pays mec insurance of $70 per week for Kayla and contributes $51 per week to a retirement plan for her 2. Paula earns a weekly salary of $1,200. Paula's federal income tax withholding is 20 percent of her gross pay. Web pays medical insurance of $115 per week for Paula and contributes $120 per week to a retirement plan for her. 3. Vacation pay is accrued at the rate of 2 hours per week (based on the regular pay rate) for Kayla and $90 per wee Paula. Assume the Social Security tax rate is 6.0 percent on the first $110,000 of salaries and the Medicare tax rate is 15 per of total salaries. The state unemployment tax rate is 5.4 percent and the federal unemployment tax rate is 0.6 percen the first $7,000 of salary for each employee. Problem 9-24A Part a Required a. Compute the gross pay for Kayla for the first week in January (Round your answer to 2 decimal places.) Gross pay *** MULE WIPE ** MUT 2. Paula earns a weekly salary of $1,200. Paula's federal income tax withholding is 20 percent of her gross pay. Webb pays medical insurance of $115 per week for Paula and contributes $120 per week to a retirement plan for her. 3. Vacation pay is accrued at the rate of 2 hours per week (based on the regular pay rate) for Kayla and $90 per week Paula. Assume the Social Security tax rate is 60 percent on the first $110,000 of salaries and the Medicare tax rate is 15 perc of total salaries. The state unemployment tax rate is 5.4 percent and the federal unemployment tax rate is 0.6 percent the first $7.000 of salary for each employee Problem 9-24A Part b b. Compute the net pay for both Kayla and Paula for the first week in January (Do not round intermediate calculations. Rou answers to 2 decimal places.) Net Pay Kayla Paula Record the entry for payment of the payroll for the week. Note: Enter debits before credits. Date General Journal Debit Credit Jan Record entry Clear entry View general journal Problem 9-24A Part d d. Prepare the journal entry to record the payroll tax expense and fringe benefit expense for Webber Packing Company for the (Round your answers to 2 decimal places.) View transaction list 1 Record the entry for payroll tax expense. 2 Record the entry for fringe benefit expense. / Credit 1. Nayia COFIS +2+ PC VUI OM 12 TIC eyu HIVI TUU UCI PCI WCCR nayla WUINCU JUTTUU LICHIS week in January, Kayla's federal income tax withholding is equal to 11 percent of her gross pay. Webber pays medical insurance of $70 per week for Kayla and contributes $51 per week to a retirement plan for her. 2. Paula earns a weekly salary of $1,200. Paula's federal income tax withholding is 20 percent of her gross pay. Webber pays medical insurance of $115 per week for Paula and contributes $120 per week to a retirement plan for her 3. Vacation pay is accrued at the rate of 2 hours per week (based on the regular pay rate) for Kayla and $90 per week for Paula Assume the Social Security tax rate is 6.0 percent on the first $110,000 of salaries and the Medicare tax rate is 15 percent of total salaries. The state unemployment tax rate is 5.4 percent and the federal unemployment tax rate is 0.6 percent of the first $7.000 of salary for each employee. Problem 9-24A Parte e. What is the total cost of compensation expense for the first week of January Year 1 for Webber Packing Company? (Do not roun Intermediate calculations. Round your answer to 2 decimal places.) Total compensation expense