Gabrielle Osmon's regular hourly wage rate is $14, and she receives a wage of 1 times the

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Gabrielle Osmon's regular hourly wage rate is $14, and she receives a wage of 1½ times the regular hourly rate for work in excess of 40 hours. During a March weekly pay period, Gabrielle worked 46 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 $30 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 $117,000.)
(3) Federal income taxes withheld. (Use the withholding table in Illustration I-5, page I-4.)
(4) State income taxes withheld. (Assume a 2.0% rate.)
(5) Net pay.
(b) Record Gabrielle's pay.
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Financial Accounting

ISBN: 978-1118978085

IFRS 3rd edition

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

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