SCENARIO 1 Myles earns $30 per hour. So far this year Myles has earned $6,400 (YTDb4). This week Myles worked for 50 hours and gets time and a half overtime for hours in excess of 40 per week. Calculate gross and net payroll and prepare journal entries for the payroll & the related employer's payroll tax expense based on the following rates. THESE 2 JOURNAL ENTRIES ARE FOR THIS WEEK ONLY! Social Security rate is 8% up to an annual limit of $100,000. Ignore medicare tax (MHI). Federal Income Tax (FWH) rate is 15% State Income Tax (SWH) rate is 5% Voluntary contribution to United Way is $30 per paycheck FUTA (Federal Unemployment) rate is 0.8% up to an annual limit of $7,000. SUTA (State Unemployment) rate is 5.4% up to an annual limit of $7,000. SCENARIO 2 Myles earns $30 per hour. So far this year Myles has earned $99,700 (YTDb4). This week Myles worked for 50 hours and gets time and a half overtime for hours in excess of 40 per week. Calculate gross and net payroll and prepare journal entries for the payroll & the related employer's payroll tax expense based on the following rates. THESE 2 JOURNAL ENTRIES ARE FOR THIS WEEK ONLY Social Security rate is 8% up to an annual limit of $100,000. Ignore medicare tax (MHI) Federal Income Tax (FWH) rate is 15% State Income Tax (SWH) rate is 5% Voluntary contribution to United Way is $30 per paycheck FUTA (Federal Unemployment) rate is 0.8% up to an annual limit of $7,000. SUTA (State Unemployment) rate is 5.4% up to an annual limit of $7,000