Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Help with this problem please Prevosti Farms and Sugarhouse pays its employees according to their job classification. The following employees make up Sugarhouse's staff: Employee

Help with this problem please

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed
Prevosti Farms and Sugarhouse pays its employees according to their job classification. The following employees make up Sugarhouse's staff: Employee Number Name and Address Payroll information A-Mille Thomas Millen Hire Date: 2-1-2019 1022 Forest School Rd DOB: 12-16-1982 Woodstock, VT 05091 Position: Production Manager 802-478-5055 PT/FT: FT, exempt SSN: 031-11-3456 No. of Exemptions: 4 401 (k ) deduction: 3% M/S: M Pay Rate: $35,000/year A-Towle Avery Towle Hire Date: 2-1-2019 4011 Route 100 DOB: 7-14-1991 Plymouth, VT 05102 Position: Production Worker 802-967-5873 PT/FT: FT, nonexempt SSN: 089-74-0974 No. of Exemptions : 1 401(k) deduction: 5% M/S: 5 Pay Rate: $12.00/hour A-Long Charlie Long Hire Date: 2-1-2019 242 Benedict Road DOB: 3-16-1987 S. Woodstock, VT 05002 Position: Production Worker 802-429-3846 PT/FT: FT, nonexempt SSN: 056-23-4593 No. of Exemptions: 2 401(k) deduction: 2% M/S: M Pay Rate: $12.50/hourB-Shang Mary Shangraw Hire Date: 2-1-2019 1901 Main Street #2 DOB: 8-20-1994 Bridgewater, VT 05520 Position: Administrative Assistant 802-575-5423 PT/FT: PT, nonexempt SSN: 075-28-8945 No. of Exemptions: 1 401 (k) deduction: 3% M/S: 5 Pay Rate: $11.09/hour B -Lewis Kristen Lewis Hire Date: 2-1-2019 840 Daily Hollow Road DOB: 4-6-1960 Bridgewater, VT 05523 Position: Office Manager 802-390-5572 PT/FT: FT, exempt SSN: 076-39-5673 No. of Exemptions : 3 401 (k) deduction: 4% M/S: M Pay Rate: $32,000/year B-Schwa Joel Schwartz Hire Date: 2-1-2019 55 Maple Farm Way DOB: 5-23-1985 Woodstock, VT 05534 Position: Sales 802-463-9985 PT/FT: FT, exempt SSN: 021-34-9876 No. of Exemptions: 2 401 (k) deduction: 5% M/S: M Pay Rate: $24,000/year base plus 3% commission per case sold B-Prevo Toni Prevosti Hire Date: 2-1-2019 10520 Cox Hill Road DOB: 9-18-1967 Bridgewater, VT 05521 Position: Owner /President 802-673-2636 PT/FT: FT, exempt SSN: 055-22-0443 No. of Exemptions: 5 401 (k ) deduction: 6% M/S: M Pay Rate: $45.000/vearThe hours for the nonexempt employees are as follows: Hours worked Name Hourly rate 2f42I8 Towle 512.68% 35 hours Long $12.56668 46 hours Shangraw $11.63968 21 hours Success (You) 513.68132 35 hours Hours worked Name Hourly rate 2f112f22 Towle 51268698 88 hours Long $12. 53968 78 hours Shangraw 511.68698 42 hours Success (You) $13.68132 71 hours Although the company has already established medical and retirement plan benefits, Toni Prevosti wants to consider other benets to attract employees. As the company's accountant, you have been tasked with annotating employee earnings records with benefrt elections for each employee. The gym membership is for a dedicated facility for employees and spouses. The following sheet contains details of employee choices. These costs are employer paid and will take effect on the rst pay period of March. Although the company has already established medical and retirement plan benefits, Toni Prevosti wants to consider other benefits to attract employees. As the company's accountant, you have been tasked with annotating employee earnings records with benefit elections for each employee. The gym membership is for a dedicated facility for employees and spouses. The following sheet contains details of employee choices. These costs are employer paid and will take effect on the first pay period of March. Child Care Educational Assistance Assistance Life Insurance Long-Term Care Gym Flex- (under $5,000 FSA ($4, 000 (at 1% of annual Insurance ($15 per Membership Employee Time annually ) (annual) annually) salary value) period) ($15 per month) Millen Yes Yes 500.00 No Yes No Yes Towle No No 1, 200.00 Yes No No Yes Long Yes Yes 700.00 Yes Yes No Yes Shangraw Yes No 200.00 No Yes No No Lewis No No 1, 600.00 No Yes Yes No Schwartz No No 450.00 Yes Yes No Yes Prevosti Yes No 900.00 No Yes No Yes Student No No 300.00 Yes No No Yes Annotate the Employee Earning Records with payroll-related benefit elections. The amount per period should be included in the record. As an example, if an employee elected to contribute $1,300 to his or her FSA, the period payroll deduction would be $1,300/26, or $50. The estimated yealy earnings used to compute the life insurance deduction for the hourly employees is: (hourly wages times number of hours worked per week * 52 weeks). Multiply the yearly earnings by 1% and divide by 26 pay periods to get the insurance per pay period. Example: Employee earns $11 per hour and works 20 hours a week. ($11 x 20 * 52) = $11,440 estimated annual earnings. $11,440 * 1% = $114.40. $114.40 / 26 = $4.40 insurance amount per pay period.Complete the question by entering your answers in the tabs below. Thomas Millen Avery Towle Charlie Long Mary Shangraw Kristen Lewis Joel Schwartz |Toni Prevosti Student Success Complete the Employee Information Form for Avery Towle. (Do not round intermediate calculations. Round your final answers to 2 decimal places.) EMPLOYEE EARNINGS RECORD Name Avery Towle Hire Date 2/1/2019 Address 4011 Route 100 Date of Birth 7/14/1991 City/State/Zip Plymouth/VT/05102 Exempt/Nonexempt Nonexempt Telephone 802-967-5873 Married/Single (M or S) S Social Security Number 089-74-0974 Number of exemptions Position Production Worker Pay Rate 12.00 hour Flex-time Child Care FSA amount Educ. Assist. Life Ins. Long-term care Gym Total BenefitStudent Student B. Success Hire Date: 2-1-2019 Success 1644 Smitten Rd DOB: 1-1-1991 NoodstockIUTIGSBel Position: Accounting Clerk (555) 5555555 PTfFT: FT, nonexempt SSN: 555555555 No. of Exemptions: 2 MKS: 5 Pay Rate: $34,680lyear The departments are as follows: Department A: Agricultural Workers Department 8: Office Workers The first day of work for Prevosti Farms and Sugarhouse for all employees is February 4, 2019. February 8 is the end ofthe first pay period and includes work completed during the week of February 48. Compute the employee gross pay using 35 hours as the standard workweek for all employees except Mary Shangraw, who works 20 hours per week and receives overtime for any time worked past that point. The other hourly employees receive overtime pay when they work more than 35 hours in one week. Joel Schwartz has made $5,000 in case sales at a 3 percent commission rate during the 2.9 pay period. Joel Schwartz's sales are subject to commissions for the 2122 pay period of $7,500. Remember that the employees are paid biweekly. Note that the first pay period comprises only one week of work, but the pay frequency for federal income tax purposes is biweekly. Mame Annual Salary Notes Millen $35,688 Lewis $32,688 Schwartz $24,686 plus 3% Commission on Sales Prevosti $45,686 The hours for the nonexempt employees are as follows

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

Step: 3

blur-text-image

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

Accounting Chapters 14-26

Authors: Carl Warren

27th Edition

1337272116, 978-1337272117

More Books

Students also viewed these Accounting questions