Question
Complete the following using theModule 05 Payroll Transactions template Calculate payroll for Karen Rodriguez and Adam Seyd for the June 14 th and June 28
Complete the following using theModule 05 Payroll Transactions template
- Calculate payroll for Karen Rodriguez and Adam Seyd for the June 14thand June 28thpayrolls. These employees are paid bi-weekly, meaning every other week.
- Journalize the transactions necessary to record the payroll.
- Address the following questions:
- What is the total cost to the company of having these two employees for the month of June?
- What additional costs would be associated with adding one more employee for 10 hours per week at $15 per hour? Would it be more beneficial to add an additional part time employee or distribute the additional hours needed to the current part time employees? Explain.
The following information will be necessary in your calculations:
Employee Information:
Hourly RateJune 14June 28Karen Rodriguez
$18/hour
24 hours worked
22 hours worked
Adam Seyd
$16/hour
15 hours worked
20 hours worked
Additional Tax and Withholding Information:
Employee ResponsibilityEmployer ResponsibilityFederal Income Tax
10% of gross pay
none
State Income Tax
5% of gross pay
none
FICA Tax
7.65% of gross pay
7.65% of gross pay
State Unemployment
none
2% of gross pay
Federal Unemployment
none
0.8% of gross pay
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