Question: Problem 10.1A (Algo) Computing gross earnings, determining deductions, journalizing payroll transactions. LO 10-2, 10-3, 10-4, 10-5, 10-7 Kathy Burnett works for Triumph Industries. Her pay

LO 10-2, 10-3, 10-4, 10-5, 10-7 Kathy Burnett works for Triumph Industries.

Her pay rate is $13.08 per hour and she receives overtime pay

Problem 10.1A (Algo) Computing gross earnings, determining deductions, journalizing payroll transactions. LO 10-2, 10-3, 10-4, 10-5, 10-7 Kathy Burnett works for Triumph Industries. Her pay rate is $13.08 per hour and she receives overtime pay at one and one half times her regular hourly rate for any hours worked beyond 40 in a week During the pay period that ended December 31, 20x1, Kathy worked 45 hours She is married and claims three withholding allowances on her W-4 form. Kathy's cumulative earnings prior to this pay period total 528,400. This week's wages are subject to the following deductions 1. Social Security tax at 62 percent 2. Medicare tax at 1.45 percent 3. Federal income tax (use the withholding table shown in Eigue 10.26) 4. Health and disability insurance premiums, 5155 5. Charitable contribution, $20 Required: 1. Compute Kathy's regular, overtime, gross, and net pay 2. Assuming the weekly payroll has been recorded, journalize the payment of hier wages for the week ended December 31 Analyze: Based on Kathy's cumulative earnings through December 31. how much overtime pat did she earn this year? Complete this question by entering your answers in the tabs below. Required Required 2 Analyze Compute Kathy's regular, overtime, groes, and net pay. (Round your intermediate calculations and final answers to 2 decimal places.) Employee Name Hourly Rate - Regular Hours Hours Worked Kathy Burnett 5 13.08 45.00 Regular Time Pay Overtime Pay Gross pay Less Net pay View transaction list Journal entry worksheet 1 Record the issuance of check for weekly payroll. Note: Enter debits before credits Date General Journal Debit Credit Dec. 31 Record entry Clear entry View general journal Prey 1 of 1 Next Analyze: Based on Kathy's cumulative earnings through December 31, how much overtime pay did she earn this year? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Anale Based on Kathy's cumulative earnings through December 31, how much overtime pay did she earn this year? (Round your intermediate calculations and final answers to 2 decimal places.) Cumulative earnings Gross pay for the year Overtime pay for the year

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