40 1,800 40 Norris, D. Rancifer, K. Greer, B. Holbert, R. Direct Indirect Indirect Indirect $0.44/piece $800/wk $1,600/wk $1,400/wk 50 40 Hourly workers are paid time-and-a-half for overtime. a. Determine the net earnings of each employee. b. Prepare the journal entries for the following: 1. Recording the payroll. 2. Paying the payroll. 3. Distributing the payroll. (Assume that the overtime premium will be distributed to all jobs worked on during the period.) 4. Recording the employer's payroll taxes. (Assume that none of the employees has achieved the maximum wage bases for FICA and unemployment taxes.) - Note: For the exercises and problems in this chapter, use the following tax rates: FICA-Employer and employee, 8% of the first $100,000 of earnings per employee per calendar year. State unemployment-4% of the first $8,000 of earnings per employee per calendar year. Federal unemployment-1% of the first $8,000 of earnings per employee per calendar year. Federal income tax withholding10% of each employee's gross earnings, unless otherwise stated. Employees' earnings using hourly and piece-rate methods The payroll records of Linda Vista Machining Co. show the following information for the week ended April 17 Production (Units) Rate $18.00/hr $17.60/hr Hours Employee Classification Worked Manressa, C. Direct 42 Dorr, M. Direct 48 Ginty, D. Direct 39 Norris, D. Direct 40 Rancifer, K. Indirect 40 Greer, B. Indirect 50 Holbert, R. Indirect 40 2,000 1,800 $0.44/piece $0.44/piece $800/wk $1,600/wk $1,400/wk Hourly workers are paid time-and-a-half for overtime. a. Determine the net earnings of each employee. b. Prepare the journal entries for the following: 40 1,800 40 Norris, D. Rancifer, K. Greer, B. Holbert, R. Direct Indirect Indirect Indirect $0.44/piece $800/wk $1,600/wk $1,400/wk 50 40 Hourly workers are paid time-and-a-half for overtime. a. Determine the net earnings of each employee. b. Prepare the journal entries for the following: 1. Recording the payroll. 2. Paying the payroll. 3. Distributing the payroll. (Assume that the overtime premium will be distributed to all jobs worked on during the period.) 4. Recording the employer's payroll taxes. (Assume that none of the employees has achieved the maximum wage bases for FICA and unemployment taxes.) - Note: For the exercises and problems in this chapter, use the following tax rates: FICA-Employer and employee, 8% of the first $100,000 of earnings per employee per calendar year. State unemployment-4% of the first $8,000 of earnings per employee per calendar year. Federal unemployment-1% of the first $8,000 of earnings per employee per calendar year. Federal income tax withholding10% of each employee's gross earnings, unless otherwise stated. Employees' earnings using hourly and piece-rate methods The payroll records of Linda Vista Machining Co. show the following information for the week ended April 17 Production (Units) Rate $18.00/hr $17.60/hr Hours Employee Classification Worked Manressa, C. Direct 42 Dorr, M. Direct 48 Ginty, D. Direct 39 Norris, D. Direct 40 Rancifer, K. Indirect 40 Greer, B. Indirect 50 Holbert, R. Indirect 40 2,000 1,800 $0.44/piece $0.44/piece $800/wk $1,600/wk $1,400/wk Hourly workers are paid time-and-a-half for overtime. a. Determine the net earnings of each employee. b. Prepare the journal entries for the following