Herman Smith manages a Frosty Boy drive-in. His straight-time pay is $17 per hour, with time-and-a-half for hours in excess of 40 per week. Smith's payroll deductions include withheld income tax of 30%, FICA tax, and a weekly deduction of $8 for a charitable contribution to United Way. Smith worked 53 hours during the week. i (Click the icon to view payroll tax rate information.) Read the requirements. Gross Pay Compute Smith's net pay for the week. (Round all amounts the nearest cent.) Withholding deductions: $1,011.50 Net (take-home) pay

Herman Smith manages a Frosty Boy drive-in. His straight-time pay is $17 per hour, with time-and-a-half for hours in excess of 40 per week. Smith's payroll deductions include withheld income tax of 30%, FICA tax, and a weekly deduction of $8 for a charitable contribution to United Way. Smith worked 53 hours during the week. (Click the icon to view payroll tax rate information.) Read the requirements. Gross Pay $1,071.00 For all payroll calculations, use the following tax rates and round amounts to the nearest cent: Employee: OASDI: 6.2% on first $132,900 earned; Medicare: 1.45% up to $200,000,2.35% on earnings above $200,000. Employer: OASDI: 6.2% on first $132,900 earned; Medicare: 1.45%; FUTA: 0.6% on first $7,000 earned; SUTA: 5.4% on first $7,000 earned. Requirements 1. Compute Smith's gross pay and net pay for the week. Assume earnings to date are $12,000. 2. Journalize Frosty Boy's wages expense accrual for Smith's work. An explanation is not required. 3. Journalize the subsequent payment of wages to Smith