Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Prepare a journal entry to distribute the wages earned during April. What is the total amount of payroll taxes that will be imposed on the

image text in transcribed Prepare a journal entry to distribute the wages earned during April. What is the total amount of payroll taxes that will be imposed on the employer, assuming that two administrative employees with combined earnings this period of $2,000 have exceeded $8,000 in earnings prior to the period? ter working this exercise, see page 149 for the solution.) E3-1 Computing payroll earnings and taxes A. Jolly of Pittsburgh Manufacturing Company is paid at the rate of $20 an hour for an 8-hour day, with time-and-a-half for overtime and double-time for Sundays and holidays. Regular employment is on the basis of 40 hours a week, five days a week. At the end of a week, the labor time record shows the following: Because jobs are randomly scheduled for the overtime period, any overtime premium is charged to Factory Overhead. a. Compute Jolly's total earnings for the week. b. Present the journal entry to distribute Jolly's total earnings. Modified wage plan Marcia Young earns $25 per hour for up to 400 units of produc ion per day. If she produces more than 400 units per day, sh vill receive an additional piece rate of $0.50 per unit. Assume hat her hours worked and pieces finished for the week just ended were as follows: a. Determine Young's earnings for each day and for the week. . Prepare the journal entry to distribute the payroll, assumina

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Accounting questions