Computing Net Pay Mary Sue Guild works for a company that pays its employees 12 times the regular rate for all hours worked in excess of 40 per week. Guild's pay rate is $15.00 per hou Her wages are subject to deductions for federal income tax, Social Security tax, and Medicare tax. She is married and claims four withholding allowances. Guild has a 2- hour lunch break during an 82-hour day. Her time card is shown. Name Mary Sue Guild Week Ending March 30, 20-- Hours Worked Day In Out In Out Regular Overtime M 7:57 12:05 12:35 4:33 8 7:52 12:09 12:39 5:05 8. 1/2 7:59 12:15 12:45 5:30 1 8:00 12:01 12:30 6:31 8. 2 F 7:56 12:05 12:34 4:30 S 8:00 10:31 22 Complete the following for the week: 600 40 V regular hours x $15.00 per hour a. 6. V overtime hours x $22.50 per hour $4 135 b. $ 735 C. Total gross wages d. Federal income tax withholding 10.00 X (Tax Tables: Refer to Figure 8-4 in the text.) $ е. Social Security withholding at 6.2% $ 10 X f. Medicare withholding at 1.45% $ 71 X g. Total withholding $ 639 X h. Net pay
Computing Net Pay Mary Sue Guild works for a company that pays its employees 12 times the regular rate for all hours worked in excess of 40 per week. Guild's pay rate is $15.00 per hou Her wages are subject to deductions for federal income tax, Social Security tax, and Medicare tax. She is married and claims four withholding allowances. Guild has a 2- hour lunch break during an 82-hour day. Her time card is shown. Name Mary Sue Guild Week Ending March 30, 20-- Hours Worked Day In Out In Out Regular Overtime M 7:57 12:05 12:35 4:33 8 7:52 12:09 12:39 5:05 8. 1/2 7:59 12:15 12:45 5:30 1 8:00 12:01 12:30 6:31 8. 2 F 7:56 12:05 12:34 4:30 S 8:00 10:31 22 Complete the following for the week: 600 40 V regular hours x $15.00 per hour a. 6. V overtime hours x $22.50 per hour $4 135 b. $ 735 C. Total gross wages d. Federal income tax withholding 10.00 X (Tax Tables: Refer to Figure 8-4 in the text.) $ е. Social Security withholding at 6.2% $ 10 X f. Medicare withholding at 1.45% $ 71 X g. Total withholding $ 639 X h. Net pay
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![Computing Net Pay
Mary Sue Guild works for a company that pays its employees 12 times the regular rate for all hours worked in excess of 40 per week. Guild's pay rate is $15.00 per hour.
Her wages are subject to deductions for federal income tax, Social Security tax, and Medicare tax. She is married and claims four withholding allowances. Guild has a 2-
hour lunch break during an 82-hour day. Her time card is shown.
Name
Mary Sue Guild
Week Ending
March 30, 20--
Hours Worked
Day
In
Out
In
Out Regular Overtime
M
7:57
12:05 12:35 4:33
8
T
7:52
12:09 12:39 5:05
8
1/2
W
7:59
12:15 12:45 5:30
8
1
8:00
12:01 12:30 6:31
8
F
7:56
12:05 12:34 4:30
8
S
8:00
10:31
22
Complete the following for the week:
600
40
V regular hours x $15.00 per hour
a.
135
b.
V overtime hours x $22.50 per hour
$
735
C.
Total gross wages
d.
Federal income tax withholding
10.00
$1
(Tax Tables: Refer to Figure 8-4 in the text.)
е.
Social Security withholding at 6.2%
10
X
f.
Medicare withholding at 1.45%
$4
71
g.
Total withholding
$
639 X
h.
Net pay
Dloxt](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8552db52-4a7d-476b-bba8-cd0aea4e0726%2Fb53dcbee-a35c-4772-b180-ca1355d7e878%2Fkyqb66_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Computing Net Pay
Mary Sue Guild works for a company that pays its employees 12 times the regular rate for all hours worked in excess of 40 per week. Guild's pay rate is $15.00 per hour.
Her wages are subject to deductions for federal income tax, Social Security tax, and Medicare tax. She is married and claims four withholding allowances. Guild has a 2-
hour lunch break during an 82-hour day. Her time card is shown.
Name
Mary Sue Guild
Week Ending
March 30, 20--
Hours Worked
Day
In
Out
In
Out Regular Overtime
M
7:57
12:05 12:35 4:33
8
T
7:52
12:09 12:39 5:05
8
1/2
W
7:59
12:15 12:45 5:30
8
1
8:00
12:01 12:30 6:31
8
F
7:56
12:05 12:34 4:30
8
S
8:00
10:31
22
Complete the following for the week:
600
40
V regular hours x $15.00 per hour
a.
135
b.
V overtime hours x $22.50 per hour
$
735
C.
Total gross wages
d.
Federal income tax withholding
10.00
$1
(Tax Tables: Refer to Figure 8-4 in the text.)
е.
Social Security withholding at 6.2%
10
X
f.
Medicare withholding at 1.45%
$4
71
g.
Total withholding
$
639 X
h.
Net pay
Dloxt
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