14 days ago

Vince Lupino works for Best Supplies Company, which pays its employees time and a half for all hours worked in excess of 40 hour

s per week. Lupino's rate of pay is $12.00 per hour paid weekly. Federal income tax withheld was $54.00. His wages are subject to Social Security tax withheld at the rate of 6.2% and Medicare tax at the rate of 1.45%. He worked 8 hours of overtime last week (week ended July 16).
Required:

1.Compute the following:

a.Regular pay for the week

b.Overtime pay for the week

c.Total gross wages

d.Social Security withheld

e.Medicare tax withheld

f.Total withholding

g.Net pay

2.Journalize the payroll entry.

Business

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The answer to the question is provided below.

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