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For all payroll calculations, use the following tax rates and round amounts to the nearest cent. Employee: OASDI: 6.2% on first $116,000 earned; Medicare: 1.45% up to $230,000,2.35% on earnings above $230,000. Employer: OASDI: 6.2% on first $116,000 earned; Medicare: 1.45%; FUTA: 0.6% on first $9,000 earned; SUTA: 5.49 on first $9,000 earned. Keith Castro manages a Taco House drive-in. His straight-time pay is $7 per hour, with time-and-a-half for hours in excess of 40 per week. Castro payroll deductions include withheld federal income tax of 17\%, FICA tax, and a weekly deduction of $7 for a charitable contribution to the United Way. Castro worked 50 hours during the week. 1. Compute Castro's gross pay and net pay for the week. Earnings to date are $14,000. Base rate X Regular hour = OT Rate X OT Hours = Gross pay = 2 Journalize Taco House wages expense accrual for Castro's work. 3. Journalize the subsequent payment of wages to Castro. For all payroll calculations, use the following tax rates and round amounts to the nearest cent. Employee: OASDI: 6.2% on first $116,000 earned; Medicare: 1.45% up to $230,000,2.35% on earnings above $230,000. Employer: OASDI: 6.2% on first $116,000 earned; Medicare: 1.45%; FUTA: 0.6% on first $9,000 earned; SUTA: 5.49 on first $9,000 earned. Keith Castro manages a Taco House drive-in. His straight-time pay is $7 per hour, with time-and-a-half for hours in excess of 40 per week. Castro payroll deductions include withheld federal income tax of 17\%, FICA tax, and a weekly deduction of $7 for a charitable contribution to the United Way. Castro worked 50 hours during the week. 1. Compute Castro's gross pay and net pay for the week. Earnings to date are $14,000. Base rate X Regular hour = OT Rate X OT Hours = Gross pay = 2 Journalize Taco House wages expense accrual for Castro's work. 3. Journalize the subsequent payment of wages to Castro

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