Kathy Burnett works for Triumph Industries. Her pay rate is $13.44 per hour and
ID: 2555100 • Letter: K
Question
Kathy Burnett works for Triumph Industries. Her pay rate is $13.44 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, 2019, Kathy worked 42 hours. Kathy is married and claims three withholding allowances on her W-4 form. Kathy's cumulative earnings prior to this pay period total $29,000. Kathy's wages are subject to the following deductions:
Social Security tax at 6.2 percent
Medicare tax at 1.45 percent
Federal income tax (use the withholding table shown in Figure 10.2b)
Health and disability insurance premiums, $161
Charitable contribution, $18
U.S. Savings Bond, $100
Required:
Compute Kathy’s regular, overtime, gross, and net pay.
Assuming the weekly payroll has been recorded, journalize the payment of her wages for the week ended December 31, 2019.
Analyze:
Based on Kathy’s cumulative earnings through December 31, how much overtime pay did she earn this year?
Explanation / Answer
1. Compute Kathy'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, 2019.
Analyze:
Based on Kathy’s cumulative earnings through December 31, how much overtime pay did she earn this year?
Overtime Pay = $1,622.72
Explanation: 1
2.
Analyze:
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Regular time earnings $537.60 Over time earnings $40.32 Gross earning $577.92 Net pay $230.71Related Questions
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