3. Tyler Jacob is paid $15 per hour for a 40-hour work week with time-and-a-half for...

 

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3. Tyler Jacob is paid $15 per hour for a 40-hour work week with time-and-a-half for overtime, which is not charged to specific jobs. For the week of March 4 - 10. Tyler's labor time record was as follows: Mon Tues Wed Thur Fri 10 Sat Total Job B280 8 6. 10 2 41 Machine maintenance Total 8. 9. 8 10 10 3 48 Other Information: Tyler's year-to-date wages as of March 3 were $7,500. He contributes $20 weekly for his health insurance premiums. Current tax rates in effect are: FIT withholding rate - 10%; FICA - 8% on the first $100,000 of wages; SUTA - 4% on the first $8,000 of wages; and FUTA - 1% on the first $8,000 of wages. (a) Calculate Tyler's gross and net pay. (b) Prepare the journal entries necessary to (1) Record Tyler's payroll (2) Pay Tyler's payroll (3) Distribute Tyler's payroll to the appropriate accounts (c) Calculate the employer's payroll taxes and prepare the journal entry to record them employer's portion of payroll taxes 3. Tyler Jacob is paid $15 per hour for a 40-hour work week with time-and-a-half for overtime, which is not charged to specific jobs. For the week of March 4 - 10. Tyler's labor time record was as follows: Mon Tues Wed Thur Fri 10 Sat Total Job B280 8 6. 10 2 41 Machine maintenance Total 8. 9. 8 10 10 3 48 Other Information: Tyler's year-to-date wages as of March 3 were $7,500. He contributes $20 weekly for his health insurance premiums. Current tax rates in effect are: FIT withholding rate - 10%; FICA - 8% on the first $100,000 of wages; SUTA - 4% on the first $8,000 of wages; and FUTA - 1% on the first $8,000 of wages. (a) Calculate Tyler's gross and net pay. (b) Prepare the journal entries necessary to (1) Record Tyler's payroll (2) Pay Tyler's payroll (3) Distribute Tyler's payroll to the appropriate accounts (c) Calculate the employer's payroll taxes and prepare the journal entry to record them employer's portion of payroll taxes