Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please: -Identify and calculate different payroll elements - Calculate payroll, taxes and deductions Lily receives an annual salary of $89,760.00 based on a 36-hour workweek

Please:

-Identify and calculate different payroll elements

- Calculate payroll, taxes and deductions

Lily receives an annual salary of $89,760.00 based on a 36-hour workweek comprised of four, nine-hour days. She has two hours of overtime at time-and-a-half and did not work the mandatory holiday. Adam is paid $35.50 per hour based on eight-hour days and a 40-hour workweek. All premium wages are paid at regulatory minimums. From Sunday to Saturday, he worked 8, 0, 8, 8, 8, 3, and 8 hours, respectively. He will not receive another day off in lieu for the mandatory holiday. Richard receives a graduated commission of 2.25% on his first $100,000 in sales and 4.15% on anything higher. His sales during one week were $123,000. Ignore his holiday or mandatory earnings in your calculations. Jack is paid a straight piecework wage of $2.24 per unit produced. He worked a total of 30 hours during the week, producing one unit every five minutes. Ignore his holiday or mandatory earnings in your calculations

For all employees combined, determine the: 1. Total regular earnings 2. Overtime earnings 3. Holiday earnings, 4. Holiday worked earnings that Fort Kent Industries must report on its weekly company payroll report.

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

More Books

Students also viewed these Accounting questions