Question
Prepare the Super Pharmacy payroll record with the following columns: employee name, number of hours worked, hourly wage, weekly gross wage, social security discount 6.2
Prepare the Super Pharmacy payroll record with the following columns: employee name, number of hours worked, hourly wage, weekly gross wage, social security discount 6.2 %, Medicare discount 1.45%, and retirement savings. Overtime is time and a half. Finish filling out table
1. Calculate the gross salary of each employee.
2. Calculate the amount withholding from Social Security and Medicare.
3. Calculate the net pay for each employee.
4. Journalize the entry to record the payroll.
The Better Pharmacy pays for overtime hours and a half. It does not pay overtime to employees who are paid by salary. The company has 10 employees and the information on the hours worked is as follows:
Name of employee | Hrs worked | Salary per hr | weekly salary | retirment payment | union payment |
Liza Sanchez | 43 | $8.50 | $21.93 | $15 | |
Olga Cintron | 41 | 11.50 | 37.12 | Manager no union fees. | |
John Smith | 55 | $1,100 | 88.00 | Manager no union fees. | |
Johnny Cage | 40 | 7.25 | 23.02 | 15 | |
Selena Rodiguez | 46 | 25.00 | 92.00 | 15 | |
Samuel Rivera | 60 | 10.00 | 48.00 | 15 | |
Bobby Jackson | 40 | 8.00 | 25.60 | 15 | |
Angie Lopez | 40 | 8.25 | 26.40 | 15 | |
Fausto Casper | 38 | 10.75 | 32.68 | 15 | |
Wade Pool | 43 | 860 | 68.80 | Manager no union fees. |
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