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 $12.96 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 43 hours. She is married and claims three withholding allowances on her W-4 form. Kathy's cumulative earnings prior to this pay period total $28.200. This week's wages are subject to the following deductions: 1. Social Security tax at 6.2 percent 2. Medicare tax at 1.45 percent 3. Federal income tax (use the withholding table shown in Figure 10.2b) 4. Health and disability Insurance premiums, $153 5. Charitable contribution, $16 Required: 1. Compute Kathy's regular, overtime, gross, and net pay 2. Assuming the weekly payroll has been recorded, journalize the payment of her wages for the week ended December 31 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 t Required 2 Analyze Compute Kathy's regular, overtime, gross, and net pay. (Round your intermediate calculations and final answers to 2 decimal places.) Employee Name Hourly Rate-Regular Hours Hours Worked Regular Time Pay Overtime Pay Gross pay Less Kathy Burnett S 12.90 43.00 Net pay Required 2 >>