Problem 10.2A (Algo) Computing gross earnings, determining deductions, preparing payroll register, journalizing payroll transoctions. LO 10-2, 10-3, 10-4, 10-5 Low Country Goods has four employees and pays them on an hourty basis. During the week beginning June 24 and ending June 30. these empioyees worked the hours shown below information about hourly rates, martal status, federal income tax withheld, and cumulatve earnings prior to the current pay period also appears below. Consider any hours worked beyond 40 in the week as overtime hours and overtime pay at one and one-half times their reguiar hourly rate. Required: 1. Fnter the basic payroll information for each employee in o poyroul register Record the employee's name, marital status, total and overtime hours, and reguiar hourly rate. Note: Consider any hours worked beyond 40 in the week as overtime hours and overtime pay at one and one-haif times therr regular hourly rate 2. Compute the regular, overtime, and gross earnings for each employee. Enter the figures in the payroll register 3. Compute the amount of social security lax to be withneld from each employee cearnings. Assume o 62 percent social securtiy rate on the first $142.800 earned by the employes during the yeor. Enter the figures in the payroll register. 4. Compute the omount or Medicore tax to be wthheld from each employee s earnings. Assume o 1.45 percent Medicare tox rate on al salaries ond woges earned by the employee during the year Enter the figures in the poyroll registec 5. Enter the amount of federal income tox to be winneld from soch employee's total earmings. 6. Compute the net pay of each employee and enter the figures in the payroll register 7. Prepare a general joumal entry to record the poyroll for the week ended June 30 . 8. Record the general joumai entry to summarize payment of the poyroli on Jily 3 Anolyze: Whot are Ampra Brandon's cumulative earnings on June 30,201