Help getting the answer to #5!! I need the answers for the Social Security , Medicare, and the Vol. Withholding!! ### Payroll Register**Pay Period:** 09/06/2020 **Pay Date:** 09/12/2020 ---| Employee Name | Regular Hours | Regular Rate | Regular Earnings | Overtime Hours | Overtime Rate | Overtime Earnings | Total Earnings | FWT | SWT | Social Security | Medicare | Vol. With. | Check Number | Net Pay ||---------------|---------------|--------------|------------------|----------------|---------------|-------------------|----------------|-----|-----|----------------|---------|------------|--------------|--------|| Williams, L | 40 | $7.50 | $300.00 | 4 | $11.25 | $45.00 | $345.00 | $15.00 | $14.84 | $ | $ | $ | $ | $ || Olsen, J | 40 | $9.10 | $364.00 | 7 | $13.65 | $95.55 | $459.55 | $12.00 | $17.98 | $ | $ | $ | $ | $ || Upton, N | 40 | $11.80 | $472.00 | 2 | $17.70 | $35.40 | $507.40 | $3.00 | $25.37 | $ | $ | $ | $ | $ || Rodriguez, J | 40 | $14.00 | $560.00 | 8 | $21.00 | $168.00 | $728.00 | $53.00 | $31.67 | $ | $ | $ | $ | $ || Painter, D | 40 | $16.65 | $664.00 | 11 | $24.90 | $273.90 | $937.90 | $25.00 | $44.40 | $ | $ | $ | $ | $ || **Totals:** | | | $2,360.00 | | | $617.85 | $2,977.85 | $108.00 | $134.26 | $ | $ | $ | $ | $ |#### Explanation of Columns:- **Employee Name:** Name of **Payroll Calculation Exercise Instructions**Complete the remaining columns of the payroll register for the five employees whose information was provided in PSa 2-4, PSa 2-12, and PSa 3-8. All employees work in a state that does not require the withholding of disability insurance, and none of the employees files a tax return under married filing separately status. Additional information for each employee is provided below:---### Detailed Employee Information:**5. Drew Painter:**- **Hourly Wage:** $16.60/hour- **Hours Worked:** 51 hours during the most recent week- **Flexible Spending Account Contribution:** $50 each pay period- **Marital Status:** Married- **Withholding Allowances:** Five federal and four state- **Voluntary Deductions:** - Life Insurance: $20 each pay period - Charitable Contribution: $25 each pay period- **Year-to-Date Taxable Earnings for Social Security Tax:** $51,750- **Payment Method:** Check #0504---**Notes:**- For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation.---### Graphs/Diagrams:*[No graphs or diagrams are provided in the given image]*Please proceed with the payroll calculations using the provided information for Drew Painter and the other employees as detailed in the earlier parts of the exercise. Ensure to consider all deductions and contributions when calculating net pay.

A payroll register will consist of all the details of each employee relating to their payroll check…

5. Drew Painter earns $16.60/hour, and worked 51 hours during the most recent week. He participates in a flexible spending account, to which he contributes $50 each period. Drew Painter is married, claims five federal withholding allowances and four state withholding allowances. Drew Painter voluntarily deducts life insurance of $20 and a charitable contribution of $25 each pay period. His year-to-date taxable earnings for Social Security tax, prior to the current pay period, are $51,750, and he is paid with check #0504. Notes: • For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation.

5. Drew Painter earns $16.60/hour, and worked 51 hours during the most recent week. He participates in a flexible spending account, to which he contributes $50 each period. Drew Painter is married, claims five federal withholding allowances and four state withholding allowances. Drew Painter voluntarily deducts life insurance of $20 and a charitable contribution of $25 each pay period. His year-to-date taxable earnings for Social Security tax, prior to the current pay period, are $51,750, and he is paid with check #0504. Notes: • For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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