Chapter 8 Mastery Problem Abigail Trenkamp owns and operates the Trenkamp Collection Agency. Listed below are the name, number of allowances claimed, marital status, information from time cards on hours worked each day, and the hourly rate of each employee. All hours worked in excess of 40 hours for Monday through Friday are paid at 1 1/2 times the regular rate. All weekend hours are paid at double the regular rate. Trenkamp uses a weekly federal income tax withholding table (see Figure 8-4). Social Security tax is withheld at the rate of 6.2% for the first $128,400 earned. Medicare tax is withheld at 1.45% and state income tax at 3.5%. Each employee has $12 withheld for health insurance. All employees use payroll deduction to the credit union for varying amounts as listed. Trenkamp Collection Agency Payroll Information for the Week Ended November 18, 20-- Credit Total Employee No of Marital Hours Worked Hourly Union Earnings Name No. Allow. Status SSMTWTF Rate Deposit 1/1-11/11 Berling, James M 2 2 9 8 8 9 10 $12 $149.60 $ 24,525 Merz, Linda M 0 0 8 8 8 8 10 15 117.00 30,480 Goetz, Ken AWN M 0 0 67 89 13 91.30 23,400 WNNA Menick, Judd S 8 8 0 8 8 9 13 126.50 26,325 Morales, Eva 0 0 8 8 6 8 13 117.05 24,730 Heimbrock, Jacob 0 8 8 8 8 42 154.25 127,440 Townsley, Sarah 10 00 4 0 4 . 6 6 6 12 83.05 21,425 Salzman, Beth 6 6 11 130.00 6,635 NONO NOWNN Layton, Esther 11 88.00 5,635 Thompson, David 10 10 10 14 128.90 25,830 Vadillo, Carmen 11 13 139.11 24,115 The Trenkamp Collection Agency follows the practice of drawing a single check for the net amount of the payroll and depositing the check in a special payroll account at the bank. Individual checks issued were numbered consecutively, beginning with No. 331