Chapter 8, Problem 1CE

### College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756

Chapter
Section

### College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756
Textbook Problem

# Checkpoint ExercisesQian Wang is paid a regular rate of $14 per hour and 1 1 2 rimes the regular rate for hours worked over 40 in a week. During the past week, Qian worked 45 hours.(a) Compute Qian’s gross pay for the week.(b) Assume Qian is married and claims two withholding allowances. Compute the amount of federal income tax her employer should withhold for the week. a) To determine Compute Person Q’s gross pay for the week. Explanation Gross pay: Gross pay is a payment made to an employee for completion of work allocated by the company. Gross pay is computed by using normal hours worked by the employee with hourly wages rate. Compute Person Qâ€™s gross pay for the week.  Particulars Amount in$ Regular pay (40Â hoursÃ—Â $14Â rateÂ perÂ hour) 560 Overtime pay (2) 105 Gross pay 665 (Table 1) Therefore, the total value of gross pay is$665.

Working note:

Â (1) Calculate overtime rate of pay.

TotalÂ rateÂ ofÂ overtime=RegularÂ payÂ rateÂ Â Ã—(1

b)

To determine

Compute the amount of federal income tax her employer should withhold for the week.

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