CHAPTER 11 HW: Q4

Payroll Register The following data for Throwback Industries Inc. relate to the payroll for the week ended December 9, 2018: Hours Hourly Weekly Federal Retirements Employee Worked Rate Salary Income Tax Savings Aaron 44 544 $465.52 $60 Cobb 42 38 351.31 90 Clemente 47 46 441.37 50 DiMaggio 38 32 255.36 65 Griffey, Jr. 43 40 373:80 55 Mantle $2.180 523.20 Robinson 35 147.00 95 Williams 2.440 536.80 35 Vaughn 45 36 374.40 75 Employees Mantle and Williams are office staff and all of the other emploves a sales personnel, All sales personnel are paid 1 times the regular rate for all hours in excess of 40 hours per week. The social security tax rate is 5%, and Medicare taxis 1.315 of each employee's annual earnings The next payroll check to be used is No 901 29 Required: Employees Mantle and williams are office staff, and all of the other employees are sales personnel. All sales personnel are paid 1% times the regular rate for all hours in excess of 40 hours per week. The social security tax rate is 6%, and Medicare tax is 1.5% of each employee's annual earnings. The next payroll check to be used is No. 901. Required: 1. Prepare a payroll register for Throwback Industries Inc. for the week ended December 9, 2078. Assume the normal working hours in a week are 40 hours. Enter amounts as positive numbers, Round your intermediate calculations and final answers to the nearest whole cent (two decimal places). Earnings Payroll for Week Ending December 9, 2018 Deductions withheld Federal Social Security Medicare Income Retirement Tax Tax Tax Savings Total Name Hours Regular Overtime Total 3 Aaron 5 44 $ $ $465.52 $60 Cobb 42 351.31 90 Clemente 47 441:37 50 255.36 DiMaggio 38 Griffey. 43 Dr. 373.80 55 Earnings Payroll for Week Ending December 9, 2018 Deductions withheld Federal Social Security Medicare Income Retirement Tax Tax Tax Savings Total Name Hours Regular Overtime Total $ Aaron 14 $465.52 $60 Cobb 42 351.31 90 441,37 50 Clemente 47 255:36 65 DiMaggio 38 373.80 55 Griffey, Or 43 . GE Payroll for Week Ending December 9, 2018 Deductions withheld Paid Accounts Debited urity Medicare Tax Federal Income Tax Retirement Savings Ck. No. Sales Salaries Expense Office Salaries Expense Total Net Pay $ $ $465.52 $60 3 901 $ 351.31 90 902 441.37 50 903 255.36 65 904 373.80 55 905 A 522 on eBook Total Name Hours Social Security Tax Regular Federal Income Tax Overtime Medicare Tax Total Retirement Savings Aaron 44 $ 5465.52 $60 Cobb 42 351.31 90 Clemente 47 TOM 441.37 50 255.36 65 DiMagolo 38 Griffey. 43 Ir 373.80 35 Mantle 523.20 BO Robinson 35 147,00 95 Williams 536.80 35 Vaughn 48 374.40 75 $ Totals 2. Journalize the entry to record the payroll for the week. It required, round your answers to two decimal places. If an amount box does not require an entry, leave it blank Social Security Tax Medicare Tax Federal Income Tax Retirement Savings ck. No. Sales Salaries Expense Office Salaries Expense Total Net Pay $465.52 $60 901 351.31 90 902 441.37 50 903 255.36 65 904 373.80 55 905 523.20 80 906 95 907 147.00 536.80 908 35 909 374.40 75 LIO $ 2. Journalize the entry to record the payroll for the week. If required, round your answers to two decimal places. If an amount box does not require an entry, leave it blank