Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I have some of it filled out but use the information given to fill out the rest of the chart. Payroll is paid twice a

I have some of it filled out but use the information given to fill out the rest of the chart.
image text in transcribed
image text in transcribed
Payroll is paid twice a month on the 15th and end of the month. Any overtime federal regulations is paid at time and one-half. Everyone has worke d 80 hours in t urrent payroll period except Jimmy who worked 87 hours. Assume that the pay period has 80 regular hours. Round to 2 decimals (nearest penny) and show your calculations in detail Required: Prepare a payroll register similar to the one on page 487 in your textbook. This is the first payroll of the year, January 15, 2015, use the following list of employees and the information provided. Pull up the template I have provided for this example click on cell A27 and type your name, it will not show up on the spreadsheet but mus show up on the document for you to get credit and You should turn in: A complete payroll register and calculations for the employer taxes and the formulas should be used in Excel. FICA is 7.65% state unemployment is 5.6% federal unemployment is .8% Part a) Prepare the payroll register for the period. Show your calculations for each payroll check. Part b) Compute the employer's payroll tax expense for the current payroll. Show your calculations for the employer's portion of payroll taxes. YOU MUST TURN IN THIS SHEET WITH YOUR COMPLETED WORK. Per Month Insurance Withholding Withholding Deduction $23.00 --$79.00 $23.00 $51.00 $23.00 $78.00 $27.00 $69.00 Federal State Wage $1,574.00 per month $13.00 per hour $10.00 per hour Joan White $3,267.00 per pay period $109.00 Emplovee Mary Smith Jimmy Brown Cal Davis $183.00 $92.00 $113.00 FUTA 787. 00 589. 30 1.4I 3.00 TOTAL TOTAL TOTAL 32.0 Total

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

Students also viewed these Accounting questions