Question: Save & Exit Exercise 9-9A Calculating payroll LO 9-5 Zolnick Enterprises has two hourly employees: Kelly and Jon. Both employees earn overtime at the rate
Save & Exit Exercise 9-9A Calculating payroll LO 9-5 Zolnick Enterprises has two hourly employees: Kelly and Jon. Both employees earn overtime at the rate of 1 V2 times the hourly rate for hours worked in excess of 40 per week. Assume the Social Security tax rate is 6 percent on the first $110,000 of wages, and the Medicare tax rate is 15 percent on all earnings. Federal income tax withheld for Kelly and Jon was $260 and $220 respectively. The following information is for the first week in January Yeart 10 Employee Kelly Jon Hours worked 54 44 Wage Rate per Hour $32 $26 Required a. Calculate the gross pay for each employee for the week. b. Calculate the net pay for each employee for the week, c. Prepare the general journal entry to record payment of the wages Complete this question by entering your answers in the tabs below. Reg A and B Reqc Calculate the gross pay for each employee for the week. Calculate the net pay for each employee for the week. (Round intermediate calculations and final answers to 2 decimal places.) ers to 2 decimal places.) View transaction list Journal entry worksheet
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