Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Rose Garza's regular hourly wage rate is $32, and she receives a wage of 1 times the regular hourly rate for work in excess of
Rose Garza's regular hourly wage rate is $32, 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, Rose worked 42 hours. Her gross earnings prior to the current week were $5,000. Rose is married and claims three withholding allowances. Her only voluntary deduction is for group hospitalization insurance at $32.00 per week. Compute the following amounts for Rose's wages for the current week. (Round all answers to 2 decimal places, e.g. 52.55.) (1) Gross earnings. (2) FICA taxes. (Assume a 7.65% rate on maximum of $132,900.) (3) Federal income taxes withheld. (4) State income taxes withheld. (Assume a 2.0% rate.) (5) Net pay. AA A +A A A 1376 105.26 101 27.52 1110.22 Record Rose's pay. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 2 decimal places, e.g. 52.75.) Account Titles and Explanation Debit Credit
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