Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

7A-2. September Company has five salaried employees. Your task is to use the fol- lowing information to prepare a payroll register to calculate net pay

image text in transcribed
image text in transcribed
image text in transcribed
7A-2. September Company has five salaried employees. Your task is to use the fol- lowing information to prepare a payroll register to calculate net pay for each employee: Allowance and Marital Status Employee Dunn, Holly Herman, Kacey Roberts, Hazel Bothwell, Brodie Ackerman, Lee Cumulative Earnings Before This Payroll $ 39,000 35,000 53,800 125,950 Biweekly Salary Department $1,250 Customer Service 1,400 Office 1,000 Office 2,040 Customer Service 29,000 1,110 Customer Service Assume the following: 1. FICA OASDI is 6.2% on $127,200; FICA Medicare is 1.45% on all earnings, 2. Each employee contributes $35 biweekly for medical insurance. 3. State income tax is 2% of gross pay. 4. FIT is calculated from Figure 7.2. 7A-3. The bookkeeper of Jungle Co. gathered the following data from individual employee earnings records and daily time cards. Your task is to complete a pay- roll register on October 13. M 5 7 Daily Time T W T 5 7 7 6 6 7 F 10 8 Hourly Rate of Pay $17 9 FIT $34 43 so Allowance and Cumulative Earnings Employee Marital Status Before This Payroll Fine, Paul M-1 $65,400 Rock, 15,500 Danika Ford, 68,000 Randy Judd, Jay S-1 16,000 11 12 8 7 7 14 27 6 11 9 10 11 21 157 Assume the following: 1. FICA OASDI is 6.2% on $127,200; FICA Medicare is 1.45% on all earnings. 2. Federal income tax has been calculated from a weekly table for you. 3. Each employee contributes $27 weekly for health insurance. 4. Overtime is paid at a rate of 1.5 over 40 hours. 5. Fine and Ford work in the office; the other employees work in sales

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Hong Kong Auditing Economic Theory And Practice

Authors: Ferdinand A Gul

2nd Edition

9629371413, 978-9629371418

More Books

Students also viewed these Accounting questions

Question

Define cost as applied to the valuation of inventories.

Answered: 1 week ago