Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Payroll Register The following data for Throwback Industries Inc. relate to the payroll for the week ended December 9, 20Y8: Hours Hourly Weekly Federal Retirements

Payroll Register

The following data for Throwback Industries Inc. relate to the payroll for the week ended December 9, 20Y8:

Hours Hourly Weekly Federal Retirements
Employee Worked Rate Salary Income Tax Savings
Aaron 48 $26 $310.96 $55
Cobb 44 44 435.16 95
Clemente 42 34 277.78 100
DiMaggio 36 28 211.68 55
Griffey, Jr. 45 42 418.95 35
Mantle $1,950 468.00 65
Robinson 38 30 171.00 70
Williams 2,180 479.60 85
Vaughn 41 40 332.00 85

Employees Mantle and Williams are office staff, and all of the other employees are sales personnel. All sales personnel are paid 1 times the regular rate for all hours in excess of 40 hours per week. The social security tax rate is 6%, and Medicare tax is 1.5% of each employee's annual earnings. The next payroll check to be used is No. 901.

Required:

Question Content Area

1. Prepare a payroll register for Throwback Industries Inc. for the week ended December 9, 20Y8. Assume the normal working hours in a week are 40 hours. Enter amounts as positive numbers. Round your intermediate calculations and final answers to the nearest whole cent (two decimal places).

image text in transcribed

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_2

Step: 3

blur-text-image_3

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

Optimization Methods In Finance

Authors: Gérard Cornuéjols, Javier Peña, Reha Tütüncü

2nd Edition

1107056748, 9781107056749

More Books

Students also viewed these Accounting questions