Chapter Three Name NOTE: Unless otherwise directed, use the following rates in the remaining parts of this chapter: FICA tax,8% FUTA tax, 1%; state unemployment insurance tax 4%.Assume also that base wage amounts, beyond which taxes due, have not been reached Part V Computing and journalizing payroll. The information below, taken from the daily time tickets of Musketeer Manufacturing, Inc. summarizes time and piecework for the week ended January 30. Clock Production Hourly Pece worked Rate Employee No. No. 37 Finn, D. 38 700 Myles, A............... 39 343 Sato, R................ 40 The company operates on a 40-hour week and pays time and a half for overtime. FICA tax deductions should be made for each employee. A 3% deduction is to be made from each employee's wage for health insurance. Finn works as a forklift operator, Sato is the supervisor, the others work directly on the jobs. Use 15% in computing income tax withheld. 1. Using the form provided below, determine each employee's gross pay, deductions, and net Chalmers Finn Myles Sato Total Hours worked................... Piecework...............-......... Rate (hourly piece)-------- Direct labor Indirect labor overtime premium. Gross pay Income tax (5%0............. S FICA tax (8%. Health insurance (8%). Total deductions. Net pay