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Accounting! Help! Employee Earnings Record Mary's Luxury Travel uses a weekly federal income tax withholding table. Refer to Figure 8-4 in the text. The payroll
Accounting! Help!
Employee Earnings Record Mary's Luxury Travel uses a weekly federal income tax withholding table. Refer to Figure 8-4 in the text. The payroll data for each employee for the week ended March 22, 20, are given. Employees are paid 172 times the regular rate for working over 40 hours a week. Name No. of Marital Total Hours Total Earnings Allowances Status Worked Mar. 16-22 Rate Jan. 1-Mar. 15 4 M 46 $12.00 $5,580.00 1 S 40 12.00 5,860.00 Bacon, Andrea Cole, Andrew Hicks, Melvin 3 M 45 10.50 4,920.00 1 1 S S 36 11.00 5,098.50 Leung, Cara Melling, Melissa 2 2 M M 40 13.00 4,740.00 Social Security tax is withheld from the first $128,400 of earnings at the rate of 6.2%. Medicare tax is withheld at the rate of 1.45%, and city earnings tax at the rate of 1%, both applied to gross pay. Bacon and Leung have $17 withheld and Cole and Hicks have $4 withheld for health insurance. Bacon and Leung have $21 withheld to be invested in the travel agency's credit union. Cole has $38.50 withheld and Hicks has $18.25 withheld under a savings bond purchase plan. Mary's Luxury Travel's payroll is met by drawing checks on its regular bank account. The checks were issued in sequence, beginning with Check No. 423. Andrew Cole, employee number 62, is employed as a manager in the ticket sales department. He was born on May 8, 1986, and was hired on June 1 of last year. His Social Security number is 544-67-1283. He lives at 28 Quarry Drive, Vernon, CT, 06066. Required: For the week ended March 22, complete an employee earnings record for Andrew Cole. (Insert earnings data only for the week of March 22.) Employee Earnings Record for Period Ended March 22 20-- Required: For the week ended March 22, complete an employee earnings record for Andrew Cole. (Insert earnings data only for the week of March 22.) Employee Earnings Record for Period Ended March 22 20-- Earnings Taxable Earnings Deductions 20 -- Period Ended Social Federal Income Tax Cumulative Unemploy. Total Comp. Social Security Tax Health Medicare Tax Regular Overtime Total Security City Tax Insurance Other Total Ck. No. Amount 3/8 3/15 3/22 3/29 Marital Date of Birth Gender Department Occupation Social Security No. Status Allowances Pay Rate Date Hired Name/Address Emp. No. M M Ticket Sales Manager 544-67-1283 S 1 $12.00 5/8/86 6/1/-- Andrew Cole 62 28 Quarry Drive, Vernon, CT, 06066Step by Step Solution
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