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Payroll Register (Objective 7-2c) You are an office employee in Furniture Galore, a retail store in a suburban mall. You have been given a schedule
Payroll Register (Objective 7-2c) You are an office employee in Furniture Galore, a retail store in a suburban mall. You have been given a schedule of salaries to use in preparing a payroll register for the pay period November 1-15. The information you will need appears below. Pay Period: Employees are paid twice monthly, on the 15th day and on the last day of the month. The pay date is two weeks after end of the pay period. This allows time for the sales amount for each salesperson to be finalized. Commissions: Some of the employees are salespersons. Commissions for these employees are based on their net sales for the two-week period before the current pay date. Taxes: Use 15 percent as the tax rate for federal income tax. Use 4.2 percent as the tax rate for Social Security. Use 1.45 percent as the tax rate for Medicare. Use 2 percent as the tax rate for state tax. (For purposes of this
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