Kathy Burnett works for Triumph Industries. Her pay rate is $12.42 per hour and

Question

Kathy Burnett works for Triumph Industries. Her pay rate is $12.42 per hour and she receives overtime pay at one and one-half times her regular hourly rate for any hours worked beyond 40 in a week. During the pay period that ended December 31, 2019, Kathy worked 46 hours. Kathy is married and claims two withholding allowances on her W-4 form. Kathy's cumulative earnings prior to this pay period total $27,300. Kathy's wages are subject to the following deductions: 1. Social Security tax at 6.2 percent 2. Medicare tax at 1.45 percent 3. Federal income tax (use the withholding table shown in Figure 10.2b) 4. Health and disability insurance premiums, $144 5. Charitable contribution, $16 6. U.S. Savings Bond, $100 Required 1. Compute Kathy's regular, overtime, gross, and net pay. 2. Assuming the weekly payroll has been recorded, journalize the payment of her wages for the week ended December 31, 2019. Analyze: Based on Kathy's cumulative earnings through December 31, how much overtime pay did she earn this year? Complete this question by entering your answers in the tabs below. Req 1 Req 2 Analyze Compute Kathy's regular, overtime, gross, and net pay. (Round your intermediate calculations and final answers to 2 decimal places.)

Explanation / Answer

Part A

Part 2

Part 3

Employee name Kathy burnett Hourly rate - regular hours 12.42 Hours worked 46.00 Regular time pay 496.80 (40*12.42) Overtime pay 111.78 (6*111.78*1.5) Gross pay 608.58 Less: Social Security tax 37.73 (608.58*6.2%) Medicare tax 8.82 (608.58*1.45%) Income tax Withholding 36 Health and disability 144 United way 16 U. S. Savings bond 100 Net pay 266.03

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