Question
I need answers to the following for my study guide- 1.) In each of the following cases, calculate the total gross pay for a weekly
I need answers to the following for my study guide-
1.) In each of the following cases, calculate the total gross pay for a weekly pay period.
- An employee earns a weekly salary of $1,250 plus a 3% commission on sales. The employee sold $7,500 this week.
- An employee earns $15.00 per hour and worked 47 hours this week
- A salary non-exempt employee earns an annual salary of $64,000. The employee worked 50 hours this week.
- A salary non-exempt employee earns a monthly salary of $5,500. The employee worked 45 hours this week.
- A salaried exempt employee earns a weekly salary of $450. The employee worked 39 hours this week.
2.) Use the percentage method to computer the federal income tax withheld for the following employees:
Name Marital Status Withholdings Salary
Akers, M. S 1 $1,075 weekly
Bostic, A. M 0 $970 bi-weekly
Carter, E. S 5 $15,600 quarterly
Dotson, G. M 6 $2,090 semi-monthly
Evans, R. M 0 $3,220 monthly
Use the wage bracket method to compute the federal income tax withholding for the following employees:
Name Marital Status Withholdings Salary
Adkins, G. M 2 $1,750 weekly
Baxter, V. S 0 $565 weekly
Collins, H. S 3 $815 weekly
Deskins, L. M 6 $7,070 monthly
Evans, E. M 2 $4,750 monthly
Foster, C. M 5 $990 semi-monthly
Gross, W. S 0 $125 daily
Harper, K. S 4 $4,010 semi-monthly
Lowe, B. M 2 $6,500 monthly
3.) The Adams Co. pays their employees monthly on the last day of the month. Use the following information to compute the total FICA tax for the December 30 payroll for the employees and the employer.
Employee Annual Salary
Smith, J. $45,650
Jones, T. $29,000
Bass, J. $33,000
Carson, A. $123,280
Williams, M. $42,800
Jones, A. $27,700
Mullins, F. $108,500
Smith, E. $75,500
Evans, R. $21,000
Turner, R. $66,760
4.) The Carter Co. has employed the following individuals since the beginning of the year:
Haynes, S. (Office Worker) $2,100 per month
Jones, T. (Salesperson) $35,000 per year
Smith, J. (Stock Clerk) $220 per week
Evans, R. (Delivery) $365 per week
Smith, R. (Maintenance) $330 per week
Required:
- Calculate the amount of FUTA tax?
- Calculate the amount of SUTA Tax?
5.) Keith Dalton is the owner and sole employee of the Dalton Co. Keith pays himself a salary of $3,000 each week. Keith is about to complete the payroll entries for the week ending June 3 (his YTD pay is $75,000).
Tax Information:
FICA - OASDI
FICA - HI
Federal Income Tax Withheld - $532 per pay period
State Income Tax Withheld - $22% of Federal Withholding
FUTA Tax
SUTA Tax - 0.05% on the first $14,000
Addition Deductions:
401-K Plan: 3% per pay period
Child Support Garnishment - $200 per pay period
Health Insurance Premium - $170 per pay period
Required:
- Complete the journal entry to record the payroll.
- Complete the journal entry to record the payroll tax.
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