Maria Garza's regular hourly wage rate is $35, and she receives a wage of 1 times the

Question:

Maria Garza's regular hourly wage rate is $35, 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, Maria worked 42 hours. Her gross earnings prior to the current week were $6,000. Maria is married and claims three withholding allowances. Her only voluntary deduction is for group hospitalization insurance at $25 per week. 


Instructions

a. Compute the following amounts for Maria's wages for the current week. 

1. Gross earnings. 

2. FICA taxes. (Assume a 7.65% rate on maximum of $132,900.) 

3. Federal income taxes withheld.

4. State income taxes withheld. (Assume a 2.0% rate.) 

5. Net pay. 

b. Record Maria's pay.

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Accounting Principles

ISBN: 9781119707110

14th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Jill E. Mitchell

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