Mary Sue Guild works for a company that pays its employees 1½ times the regular rate for all hours worked in excess of 40 per week. Guild's pay rate is $13.00 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 ½-hour lunch break during an 8½-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 ½ W 7:59 12:15 12:45 5:30 8 1 T 8:00 12:01 12:30 6:31 8 2 F 7:56 12:05 12:34 4:30 8 S 8:00 10:31 2½ Complete the following for the week: a. fill in the blank 1 regular hours × $13.00 per hour $fill in the blank 2 b. fill in the blank 3 overtime hours × $19.50 per hour $fill in the blank 4 c. Total gross wages $fill in the blank 5 d. Federal income tax withholding (Tax Tables: Refer to Figure 8-4 in the text.) $fill in the blank 6 e. Social Security withholding at 6.2% $fill in the blank 7 f. Medicare withholding at 1.45% $fill in the blank 8 g. Total withholding $fill in the blank 9 h. Net pay
Mary Sue Guild works for a company that pays its employees 1½ times the regular rate for all hours worked in excess of 40 per week. Guild's pay rate is $13.00 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 ½-hour lunch break during an 8½-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 ½ W 7:59 12:15 12:45 5:30 8 1 T 8:00 12:01 12:30 6:31 8 2 F 7:56 12:05 12:34 4:30 8 S 8:00 10:31 2½ Complete the following for the week: a. fill in the blank 1 regular hours × $13.00 per hour $fill in the blank 2 b. fill in the blank 3 overtime hours × $19.50 per hour $fill in the blank 4 c. Total gross wages $fill in the blank 5 d. Federal income tax withholding (Tax Tables: Refer to Figure 8-4 in the text.) $fill in the blank 6 e. Social Security withholding at 6.2% $fill in the blank 7 f. Medicare withholding at 1.45% $fill in the blank 8 g. Total withholding $fill in the blank 9 h. Net pay
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Computing Net Pay
Mary Sue Guild works for a company that pays its employees 1½ times the regular rate for all hours worked in excess of 40 per week. Guild's pay rate is $13.00 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 ½-hour lunch break during an 8½-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 | ½ |
| W | 7:59 | 12:15 | 12:45 | 5:30 | 8 | 1 |
| T | 8:00 | 12:01 | 12:30 | 6:31 | 8 | 2 |
| F | 7:56 | 12:05 | 12:34 | 4:30 | 8 | |
| S | 8:00 | 10:31 | 2½ |
Complete the following for the week:
| a. | fill in the blank 1 regular hours × $13.00 per hour | $fill in the blank 2 |
| b. | fill in the blank 3 overtime hours × $19.50 per hour | $fill in the blank 4 |
| c. | Total gross wages | $fill in the blank 5 |
| d. | Federal income tax withholding (Tax Tables: Refer to Figure 8-4 in the text.) |
$fill in the blank 6 |
| e. | Social Security withholding at 6.2% | $fill in the blank 7 |
| f. | Medicare withholding at 1.45% | $fill in the blank 8 |
| g. | Total withholding | $fill in the blank 9 |
| h. | Net pay |
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education