Computing Net Pay

Mary Sue Guild works for a company that pays its employees 1 times the regular rate for all hours worked in excess of 40 per week. Guild's pay rate is $13.00 per hour. Her wages are subject to deductions for federal income tax, Social Security tax, and Medicare tax. She is married and claims four withholding allowances. Guild has a -hour lunch break during an 8-hour day. Her time card is shown.

Name	Mary Sue Guild
Week Ending	March 30, 20--
					Hours Worked
Day	In	Out	In	Out	Regular	Overtime
M	7:57	12:05	12:35	4:33	8
T	7:52	12:09	12:39	5:05	8
W	7:59	12:15	12:45	5:30	8	1
T	8:00	12:01	12:30	6:31	8	2
F	7:56	12:05	12:34	4:30	8
S	8:00	10:31				2

Complete the following for the week:

a.

fill in the blank 1 regular hours $13.00 per hour

$fill in the blank 2

b.

fill in the blank 3 overtime hours $19.50 per hour

$fill in the blank 4

c.

Total gross wages

$fill in the blank 5

d.

Federal income tax withholding (Tax Tables: Refer to Figure 8-4 in the text.)

$fill in the blank 6

e.

Social Security withholding at 6.2%

$fill in the blank 7

f.

Medicare withholding at 1.45%

$fill in the blank 8

g.

Total withholding

$fill in the blank 9

h.

Net pay

Computing Net Pay

Mary Sue Guild works for a company that pays its employees 1 times the regular rate for all hours worked in excess of 40 per week. Guild's pay rate is $13.00 per hour. Her wages are subject to deductions for federal income tax, Social Security tax, and Medicare tax. She is married and claims four withholding allowances. Guild has a -hour lunch break during an 8-hour day. Her time card is shown.

Name	Mary Sue Guild
Week Ending	March 30, 20--
					Hours Worked
Day	In	Out	In	Out	Regular	Overtime
M	7:57	12:05	12:35	4:33	8
T	7:52	12:09	12:39	5:05	8
W	7:59	12:15	12:45	5:30	8	1
T	8:00	12:01	12:30	6:31	8	2
F	7:56	12:05	12:34	4:30	8
S	8:00	10:31				2

Complete the following for the week:

a.

fill in the blank 1 regular hours $13.00 per hour

$fill in the blank 2

b.

fill in the blank 3 overtime hours $19.50 per hour

$fill in the blank 4

c.

Total gross wages

$fill in the blank 5

d.

Federal income tax withholding (Tax Tables: Refer to Figure 8-4 in the text.)

$fill in the blank 6

e.

Social Security withholding at 6.2%

$fill in the blank 7

f.

Medicare withholding at 1.45%

$fill in the blank 8

g.

Total withholding

$fill in the blank 9

h.

Net pay

Computing Net Pay

Mary Sue Guild works for a company that pays its employees 1 times the regular rate for all hours worked in excess of 40 per week. Guild's pay rate is $13.00 per hour. Her wages are subject to deductions for federal income tax, Social Security tax, and Medicare tax. She is married and claims four withholding allowances. Guild has a -hour lunch break during an 8-hour day. Her time card is shown.

Name	Mary Sue Guild
Week Ending	March 30, 20--
					Hours Worked
Day	In	Out	In	Out	Regular	Overtime
M	7:57	12:05	12:35	4:33	8
T	7:52	12:09	12:39	5:05	8
W	7:59	12:15	12:45	5:30	8	1
T	8:00	12:01	12:30	6:31	8	2
F	7:56	12:05	12:34	4:30	8
S	8:00	10:31				2

Complete the following for the week:

a.	fill in the blank 1 regular hours $13.00 per hour	$fill in the blank 2
b.	fill in the blank 3 overtime hours $19.50 per hour	$fill in the blank 4
c.	Total gross wages	$fill in the blank 5
d.	Federal income tax withholding (Tax Tables: Refer to Figure 8-4 in the text.)	$fill in the blank 6
e.	Social Security withholding at 6.2%	$fill in the blank 7
f.	Medicare withholding at 1.45%	$fill in the blank 8
g.	Total withholding	$fill in the blank 9
h.	Net pay