Reference no: EM133175178

Question - Jenny Carver works at College of Seattle and is paid $35 per hour for a 40-hour workweek and time-and-a-half for hours above 40.

1. Compute Carver's gross pay for working 56 hours during the first week of February.

2. Carver is single, and her income tax withholding is 10% of total pay.

Carver's only payroll deductions are payroll taxes. Compute Carver's net (take-home) pay for the week. Assume Carver's earnings to date are less than the OASDI limit.

3. Journalize the accrual of wages expense and the payments related to the employment of Jenny Carver.

More info - For all payroll calculations, use the following tax rates and round amounts to the nearest cent:

Employee: OASDI: 6.2% on first $132,900 earned; Medicare: 1.45% up to $200,000, 2.35% on earnings above $200,000.

Employer: OASDI: 6.2% on first $132,900 earned; Medicare: 1.45%; FUTA: 0.6% on first $7,000 earned; SUTA: 5.4% on first $7,000 earned.