Payroll project 2020
for union dues, assessments, and in PROJECT AUDIT made on each plant worker's earnings record. On or before the tenth of each day worked month, the amounts withheld during the preceding month are turned over to the (refer to page PR-2 at the end of the book). If an employee works less than EST a full day, show the actual hours for which the employee will be paid. treasurer of the union. 3. In the case of an employee who begins work during a pay period, compute the start of each pay period the earnings by paying the employees their weekly rate for any full week ove the Project Audit Test Distribution of Labor Costs inning on page 7-67. ver the questions as you Figure 7.5 shows how the salaries and wages are to be charged to the labor cost worked. For any partial week, compute the earnings for that week by mul tiplying the hours worked by the hourly rate of pay. lete each pay period. accounts. If time lost is to be deducted from a salaried employee's pay, the employ ee's pay must be determined by multiplying the actual hours worked for Start of Payroll Project that week by the hourly rate. If hours are missed but no pay is deducted, CT AUDIT TEST include those hours in the Time Record columns on the payroll register. The following schedule shows the weekly and hourly wage rates of the salaried employees: d $12,315.64 October 9, 20-- No. 1 The first payroll in October covered the two workweeks that ended on Employee September 26 and October 3. This payroll transaction has been entered Weekly Rate Hourly Rate Ferguson, James C. for you in the payroll register, the employees' earnings records, the gen- Ford, Catherine L $1,125.00 $28.13 eral journal, and the general ledger. By reviewing the calculations of the Mann, Dewey W. 610.00 15.25 wages and deductions in the payroll register and the posting of the infor mation to the employees' earnings records, you can see the procedure to O'Neill, Joseph T. 575.00 16.82 Russell, Virginia A. 2,307.69" 28.85 be followed each payday. Sokowski, Thomas J. 600.00 15.00 Wages and salaries are paid by issuing special payroll checks. When the bank on which they are drawn receives such checks, they will be charged against the pay- Williams, Ruth V. 1,025.00 25.63 611.54 15.29 roll cash account. O'Neill is paid on a biweekly basis. Observe the following rules in computing earnings each pay period: 1. Do not make any deduction from an employee's earnings if the employee 5. Plant workers (Bonno and Ryan), other than supervisors, are employed on loses less than 15 minutes of time in any day. Time lost that exceeds 15 an hourly basis. Compute the wages by multiplying the number of hours minutes is rounded to the nearest quarter-hour and deducted. If the time 6 . worked during the pay period by the employee's hourly rate. The information needed and the sequence of steps that are completed for lost by an employee is not to be deducted, the time clerk will make a nota- the payroll are presented in the following discussion. tion to that effect on the Time Clerk's Report. Time Clerk's Report No. 38 FIGURE 7.5 For the Week Ending September 26, 20- Glo-Brite Labor Cost Accounts Employee Time Record Time Time Personnel Accounts to Be Charged S M T W T F S Worked Lost President (O'Neill) Administrative Salaries Bonno, A. V. .... 40 hrs. Ford, C. L. . .... . 40 hrs. Russell, V. A. . .. . Executive Secretary (Ford) 40 hrs. Ryan, N. A. . . ... Programmer (Williams) 40 hrs. Office Salaries Student . .. . . . . . 36 hrs. Time Clerk (Russell) Williams, R. V. . . 32 hrs. 8 hrs."
