Prepare the payroll for the last pay period of October from Time Clerk's Report Nos. 40 and 41.

The proper procedure in recording the payroll follows:

1 Complete the payroll register.

Project Audit Test

? Net Paid $12,352.34

In as much as only a portion of the payroll register sheet was used in recording the October 9 payroll, the October 23 payroll should be recorded on the same sheet to save space. On the first blank ruled line after the October 9 payroll, insert "Payday October 23—For Period Ending October 17, 20--." On the following lines, record the payroll information for the last pay date of October. When recording succeeding payrolls, continue to conserve space by recording two payrolls on each separate payroll register sheet.

Pay Points

Even though they are not on the time clerk's report, remember to pay the president, sales manager, sales representatives, and supervisors.

The workers in the plant (Bonno and Ryan) are paid time and a half for any hours worked over eight each workday and for work on Saturdays and are paid twicethe regular hourly rate for work on Sundays or holidays.

With this pay period, the cumulative earnings of several employees exceed the taxable income base set up by FUTA and SUTA. This factor must be considered in preparing the payroll register and in computing the employer's payroll taxes. Refer to each employee's earnings record to see the amount of cumulative earnings.

LO 2

I cant figure out why my Net Paid is $12352.34