In: Accounting
Maria Garza's regular hourly wage rate is $16, and she receives a wage of 1 1/2 times the regular hourly rate for work in excess of 40 hours. During a March weekly pay period, Maria worked 42 hours. Her gross earnings prior to the current week were $6,000. Maria is married and claims three withholding allowances. Her only voluntary deduction is for group hospitalization insurance at $25 per week.
a. Compute the following amounts for Maria's wages for the current week,
1. Gross earnings
2. FICA taxes (Assume a 7.65% rate on maximum of $117,000)
3. Federal income taxes withheld.(Use the withholding table in the next page 502)
4. State income taxes withheld (Assume a 2.0% rate)
5. Net pay
b. Record Maria's pay
ANSWER
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