Alexander WIlson operates Metroplex Courler and Dellvery Service. The company has four employees who are pald on an hourly basis. During the workweek beginning December 15 and ending December 21, 20X1, employees worked the number of hours shown below. Information about thelr hourly rates, marital status, and withholding allowances also appears below, along with their cumulative earnings for the year prior to the December 15-21 payroll perlod. Consider any hours worked beyond 40 in the week as overtime hours and overtime pay at one and one-half times their regular hourly rate. Required: 2. Compute the regular, overtime, and gross earnings for each employee. Enter the figures in the payroll register. 3. Compute the amount of soclal securlty tax to be withheld from each employee's gross earnings. Assume a 6.2 percent social security rate on the first $122,700 earned by the employee during the year. Enter the figures in the payroll register. 4. Compute the amount of Medicare tax to be withheld from each employee's gross earnings. Assume a 1.45 percent Medicare tax rate on all salarles and wages earned by the employee during the year. Enter the figures in the payroll register. 5. Determine the amount of federal Income tax to be withheld from each employee's total earnings. Use the tax tables in Flgure 10.2a \& Figure 10.2b to determine the withholding for Russell. Withholdings are $97.00 for Bahamon, $300.00 for Garcla, and $240.00 for Price. Enter the figures in the payroll register. 6. Compute the net amount due to each employee and enter the figures in the payroll register. 7. Bahamon and Russell are office workers. Garcla and Price are delivery workers. 8. Prepare a general journal entry to record the payroll for the week ended December 21,201. 9. Prepare a general journal entry on December 23 to summarize payment of wages for the week. Analyze: What percentage of total taxable wages was delivery wages? answers to 2 decimal places.) repare a general journal entry to record the payroll expenses and also summarize payment of wages for the week ended December 21 , nd December 23, 20x1. (Round your intermediate calculations and final answers to 2 decimal places.) Journal entry worksheet Record the company's payroll to be paid at a later date. Note: Enter debits before credits. repare a general journal entry to record the payroll expenses and also summarize payment of wages for the week ended December 21 , nd December 23, 20X1. (Round your intermediate calculations and final answers to 2 decimal places.) Journal entry worksheet Record the entry to summarize payment of the payroll. Note: Enter debits before credits. What percentage of total taxable wages was delivery wages? (Round your intermediate calculations to 2 decimal places and final answer to 1 decimal place.) Alexander WIlson operates Metroplex Courler and Dellvery Service. The company has four employees who are pald on an hourly basis. During the workweek beginning December 15 and ending December 21, 20X1, employees worked the number of hours shown below. Information about thelr hourly rates, marital status, and withholding allowances also appears below, along with their cumulative earnings for the year prior to the December 15-21 payroll perlod. Consider any hours worked beyond 40 in the week as overtime hours and overtime pay at one and one-half times their regular hourly rate. Required: 2. Compute the regular, overtime, and gross earnings for each employee. Enter the figures in the payroll register. 3. Compute the amount of soclal securlty tax to be withheld from each employee's gross earnings. Assume a 6.2 percent social security rate on the first $122,700 earned by the employee during the year. Enter the figures in the payroll register. 4. Compute the amount of Medicare tax to be withheld from each employee's gross earnings. Assume a 1.45 percent Medicare tax rate on all salarles and wages earned by the employee during the year. Enter the figures in the payroll register. 5. Determine the amount of federal Income tax to be withheld from each employee's total earnings. Use the tax tables in Flgure 10.2a \& Figure 10.2b to determine the withholding for Russell. Withholdings are $97.00 for Bahamon, $300.00 for Garcla, and $240.00 for Price. Enter the figures in the payroll register. 6. Compute the net amount due to each employee and enter the figures in the payroll register. 7. Bahamon and Russell are office workers. Garcla and Price are delivery workers. 8. Prepare a general journal entry to record the payroll for the week ended December 21,201. 9. Prepare a general journal entry on December 23 to summarize payment of wages for the week. Analyze: What percentage of total taxable wages was delivery wages? answers to 2 decimal places.) repare a general journal entry to record the payroll expenses and also summarize payment of wages for the week ended December 21 , nd December 23, 20x1. (Round your intermediate calculations and final answers to 2 decimal places.) Journal entry worksheet Record the company's payroll to be paid at a later date. Note: Enter debits before credits. repare a general journal entry to record the payroll expenses and also summarize payment of wages for the week ended December 21 , nd December 23, 20X1. (Round your intermediate calculations and final answers to 2 decimal places.) Journal entry worksheet Record the entry to summarize payment of the payroll. Note: Enter debits before credits. What percentage of total taxable wages was delivery wages? (Round your intermediate calculations to 2 decimal places and final answer to 1 decimal place.)
