Gabrielle Osmon's regular hourly wage rate is $14, and she receives a wage of 112 times the

Question:

Gabrielle Osmon's regular hourly wage rate is $14, and she receives a wage of 11„2 times the regular hourly rate for work in excess of 40 hours. During a March weekly pay period, Gabrielle worked 44 hours. Her gross earnings prior to the current week were $6,000. Gabrielle is married and claims three withholding allowances. Her only voluntary deduction is for group hospitalization insurance at $28 per week.

Instructions
(a) Compute the following amounts for Gabrielle's wages for the current week.
(1) Gross earnings.
(2) FICA taxes. (Assume a 7.65% rate on maximum of $106,800.)
(3) Federal income taxes withheld. (Use the withholding table in Illustration)

Gabrielle Osmon's regular hourly wage rate is $14, and she

(4) State income taxes withheld. (Assume a 2.0% rate.)
(5) Net pay.
(b) Record Gabrielle's pay, assuming she is an office computeroperator.

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Financial and managerial accounting

ISBN: 978-1118016114

1st edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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