3. A weekly payroll summary made from labor time records shows the following data for TMC Company: Regular Hours Marital Employee Classification Status C. Collier Direct Married S. Brown Direct Single E. Anglin Direct Single R. Kues Indirect Married A. Studer Indirect Married Hourly Rate $15 $13 $15 $12 $16 Overtime Hours 2 6 40 40 40 40 38 3 Other information: a. Overtime is payable at one-and-a-half times the regular rate of pay for an employee and is distributed to all jobs worked on during the period. b. Income taxes withheld (FIT) are $50 for employees with $610 or more of gross income in the period and $40 for those who earn less. c. Each married employee contributes $60 for health insurance; single employees contribute $30. d. FICA taxes are 8% on the first $100,000 of gross pay, FUTA and SUTA are 1% and 4%, respectively, on the first $8,000 of gross pay. Since this is January, none of the employees have reached the limitations. Required: 1. Determine the net pay of each employee. 2. Prepare the journal entries for the following: a. Recording the payroll. b. Paying the payroll. c. Distributing the payroll. 1