Robin Market works for Cycle Industries. Her pay rate is $14.50 per hour and she receives overtime 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, 20X1, Robin worked 42 hours. She is married and claims three withholding allowances on her W-4 form. Robin's cumulative earnings prior to this pay period 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: 1. Compute Robin's regular, overtime, gross, and net pay. 2. Assuming the weekly payroll has been recorded, journalize the payment of her wages for the week ended December 31. Analyze: Based on Robin's cumulative earnings through December 31, how much overtime pay did she earn this year?
Robin Market works for Cycle Industries. Her pay rate is $14.50 per hour and she receives overtime 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, 20X1, Robin worked 42 hours. She is married and claims three withholding allowances on her W-4 form. Robin's cumulative earnings prior to this pay period 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: 1. Compute Robin's regular, overtime, gross, and net pay. 2. Assuming the weekly payroll has been recorded, journalize the payment of her wages for the week ended December 31. Analyze: Based on Robin's cumulative earnings through December 31, how much overtime pay did she earn this year?
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter7: Employee Earnings And Deductions
Section: Chapter Questions
Problem 5PB
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Question
![Robin Market works for Cycle Industries. Her pay rate is $14.50 per hour and she receives overtime 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, 20X1, Robin worked 42
hours. She is married and claims three withholding allowances on her W-4 form. Robin's cumulative earnings prior to this pay period
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:
1. Compute Robin's regular, overtime, gross, and net pay.
2. Assuming the weekly payroll has been recorded, journalize the payment of her wages for the week ended December 31.
Analyze:
Based on Robin's cumulative earnings through December 31, how much overtime pay did she earn this year?
Complete this question by entering your answers in the tabs below.
Req 1
Reg 2
Analyze
Assuming the weekly navroll has been recorded. iournalize the pavment of her wages for the week ended December 31. 20x1. (Round](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fab3eb92b-cbcb-48ef-b19b-574be9e84f6e%2Fdea0da3e-7109-4d53-932f-88009fd23486%2F3fp8x0a_processed.png&w=3840&q=75)
Transcribed Image Text:Robin Market works for Cycle Industries. Her pay rate is $14.50 per hour and she receives overtime 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, 20X1, Robin worked 42
hours. She is married and claims three withholding allowances on her W-4 form. Robin's cumulative earnings prior to this pay period
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:
1. Compute Robin's regular, overtime, gross, and net pay.
2. Assuming the weekly payroll has been recorded, journalize the payment of her wages for the week ended December 31.
Analyze:
Based on Robin's cumulative earnings through December 31, how much overtime pay did she earn this year?
Complete this question by entering your answers in the tabs below.
Req 1
Reg 2
Analyze
Assuming the weekly navroll has been recorded. iournalize the pavment of her wages for the week ended December 31. 20x1. (Round
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