Kathy Burnett works for Triumph Industries. Her pay rate is $13.44 per hour and

Question

Kathy Burnett works for Triumph Industries. Her pay rate is $13.44 per hour and she receives over- time 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, 2016, Kathy worked 42 hours. Kathy is mar- ried and claims three withholding allowances on her W-4 form. Kathy’s cumulative earnings prior to this pay period total $29,000. 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 on page 338)

4. Health and disability insurance premiums, $161

5. Charitable contribution, $18

6. United States Savings Bond, $100

INSTRUCTIONS

1. Compute Kathy’s regular, overtime, gross, and net pay.

Explanation / Answer

Explanation: 1.

2

Regular time earnings 537.6 Over time earnings 40.32 Gross earning 577.92 Net pay 265*

Explanation: 1.

Employee Regular Hours, Hours Regular Time Overtime Gross Name Hourly Rate Worked Earnings Earnings Earnings Kathy Burnett 13.44 42 537.6 40.32 577.92

2

  Gross Pay           578   Less:   Social Security Tax             36   Medicare Tax               8   Income Tax Withholding Please calculate this youself as imformation is incomplete   Health & Disability           151   United Way             18   U.S. Savings Bond           100   Net Pay           265 Change when above information is updated

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