Problem 10.1A (Static) Computing gross earnings, determining de transactions. LO 10-2, 10-3, 10-4, 10-5, 10-7 Robin Market works for Cycle Industries. Her pay rate is $14.50 per hour and she rece regular hourly rate for any hours worked beyond 40 in a week. During the pay period hours. She is married and claims three withholding allowances on her W-4 form. Robi total $32,000. This week'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, $180 5. Charitable contribution, $25 Required:

Problem 10.1A (Static) Computing gross earnings, determining de transactions. LO 10-2, 10-3, 10-4, 10-5, 10-7 Robin Market works for Cycle Industries. Her pay rate is $14.50 per hour and she rece regular hourly rate for any hours worked beyond 40 in a week. During the pay period hours. She is married and claims three withholding allowances on her W-4 form. Robi total $32,000. This week'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, $180 5. Charitable contribution, $25 Required:

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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Hh2. Account
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Computing Overtime Rate of Pay and Gross Weekly Pay Marcos Putnam receives a regular salary of $3,120 a month and is paid 12 times the regular hourly rate for hours worked in excess of 40 per week. a. Calculate Putnam's overtime rate of pay. overtime pay per hour b. Calculate Putnam's total gross weekly pay if he works 45 hours during the week. %24 %24
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