QUESTION 2 A weekly payroll summary made from labor time records shows the following data for TMC Company: Marital Status Married Regular Hours Employee J. Johnson Hourly Rate $25 Overtime Hours Classification Direct L. Hector co R. Sabrina Indirect Direct Indirect W. Anderson M. Mary Single Married Single Married Single o Direct Indirect A. Saint $15 Other information: 1. Overtime is payable at one-and-a-half times the regular rate of pay for an employee and is distributed to all jobs worked on during the period 2. Income taxes withheld (FIT) are $130 for employees with $1,500 or more of gross income in the period and $90 for those who earn less. 3. Each married employee contributes $110 for health insurance; single employees contribute $70. 4. FICA taxes are 8% on the first $100,000 of gross pay: FUTA and SUTA are 1% and 4%, respectively, on the first $8,000 of gross pay. Since this is January, none of the employees have reached the limitations, Required: 1. Determine the net pay of each employee. 2. Prepare the journal entries for the following: a. Recording the payroll b. Paying the payroll C. Distributing the payroll Determine the net pay of each employee. Marital Regular Overtime Gross Status Earnings Earnings Earnings Married FIT W/H FICA W/H8% Health Insurance Net Pay Employee J. Johnson L. Hector Single Married R. Sabrina w. Anderson M. Mary Single Married A Saint Single 2. a Recording the payroll Post Ref. Date ACCOUNTS AND EXPLANATION Debit Credit 2. b. Paying the payroll 2. C. Distributing the payroll