Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In the Continuing Payroll Problem B, presented at the end of succeeding chapters, you will gain experience in computing wages and salaries and preparing a

In the Continuing Payroll Problem B, presented at the end of succeeding chapters, you will gain experience in computing wages and salaries and preparing a payroll register for Olney Company, Inc., a newly formed corporation.

At the end of subsequent chapters, information will be presented so that the payroll register can be completed step by step as you proceed through the discussion material relating to that particular section of the payroll register.

Olney Company is a small manufacturing firm located in Allentown, Pennsylvania. The company has a workforce of both hourly and salaried employees. Each employee is paid for hours actually worked during each week, with the time worked being recorded in quarterhour increments.

The standard workweek consists of 40 hours, with all employees being paid time and onehalf for any hours worked beyond the 40 regular hours. Wages are paid every Friday, with one weeks pay being held back by the company. Thus, the first payday for Olney Company is January 14 for the workweek ending January 8 (Saturday).

The information below will be used in preparing the payroll for the pay period ending January 8. Time Card No., Employee Name, Hourly Wage or Salary.

11. Rob A. Mangino -- $ 18.50 per hour

12. Inga C. Flores -- $19.25 per hour

13. Carson S. Palmetto -- $17.80 per hour

21. Randy F. Waters -- $20.70 per hour

22. Cathy T. Kroll -- $23.80 per hour

31. Carmen V. Ruppert -- $800 per week

32. William M. Scott -- $780 per week

33. Sarah A. Wickman -- $3,500 per month

51. Lucas T. Foley -- $4,500 per month

99. Marshal W. Olney -- $78,000 per year

compute the deductions, net pay, and taxable earnings.

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

Managing Component Based Development In Global Teams

Authors: J. Kotlarsky, I. Oshri

2009 Edition

0230222447, 978-0230201101

More Books

Students also viewed these Accounting questions

Question

7. Identify six intercultural communication dialectics.

Answered: 1 week ago