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Prevosti Farms and Sugarhouse pays its employees according to their job classification. The following employees make up Sugarhouse's staff: My question is what are the

Prevosti Farms and Sugarhouse pays its employees according to their job classification. The following employees make up Sugarhouse's staff: image text in transcribed

image text in transcribed

image text in transcribed

My question is what are the 4 boxes for under benefits eection?

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The first day of work for Prevosti Farms and Sugarhouse for all employees is February 5, 2018. February 9 is the end of the first pay period for Prevosti Farms and Sugarhouse and includes work completed during the week of February 5-9. Using the payroll register, compute the employee gross pay and net pay using 35 hours as the standard workweek for all employees except Mary Shangraw, who works 20 hours per week and receives overtime for any time worked past that point. The other hourly employees receive overtime pay when they work more than 35 hours in one week. Joel Schwartz has made $5,000 in case sales at a 3 percent commission rate during this pay period. Remember that the employees are paid biweekly. Note that the first pay period comprises only one week of work, but the pay frequency for federal income tax purposes is biweekly. Federal withholding tax should be computed using the wage-bracket tables in Appendix C. State withholding tax for Vermont is computed at 3.55 percent of taxable wages (i.e., gross pay less pre-tax deductions). February 23, 2018, is the end of the final pay period for the month. Schwartz has sold $7,500 of product during this pay period at a 3 percent commission. Pay will be disbursed on February 26, 2018, and check numbers will continue from prior payroll. The hours for the nonexempt employees are as follows: Name Towle Long Shangraw Success (You) Hourly rate $12.00000 $12.50000 $10.50000 $18.68132 Hours worked 2/5-2/9 35 hours 40 hours 21 hours 35 hours Name Towle Long Shangraw Success (You) Hourly rate $12.00000 $12.50000 $10.50000 $18.68132 Hours worked 2/12-2/23 80 hours 70 hours 42 hours 71 hours Required: Complete the payroll register for this pay period and update the Employee Earnings Record form for each employee with the corresponding information. The amount per period should be included in the record. As an example, if an employee elected to contribute $1,300 to his or her FSA, the period payroll deduction would be $1,300/26, or $50. Ensure to input an hourly rate for each employee (including those that are salaried) that is rounded to 5 decimal places. Benefit-related payroll deductions will take effect on the first pay period of March. Gym membership $15 per month Yes Child care assistance (under $5,000 annually) Yes No Yes No No No No No Flex- Employee time Millen Yes Towle No Long Yes Shangraw Yes Lewis No Schwartz No Prevosti Yes Student No Yes FSA (annual) $ 500.00 $ 1,200.00 700.00 $ 200.00 $ 1,600.00 $ 450.00 $ 900.00 300.00 Educational assistance $4,000 annually No Yes Yes No No Yes No Yes Life insurance (at 1% of annual salary value) Yes No Yes Yes Yes Yes Yes No Long-term care insurance $15 per period No No No No Yes No No No Yes No No Yes Yes Yes EMPLOYEE EARNINGS RECORD Name Address City/State/Zip Telephone Social Security Number Position Thomas Millen 1022 Forest School Rd Woodstock/VT/05001 802-478-5055 031-11-3456 Production Manager Hire Date Date of Birth Exempt/Nonexempt Married/Single (M or S) Number of exemptions Pay Rate 2/1/2018 12/16/1982 Exempt M 4 $35,000/year Flex-time Child Care FSA amount Educ. Assist Life Ins. Long-tem care Gym Yes Yes $500.00 No Yes No Yes Period Ended Reg. Pay O.T. Pay Holiday Pay Commissions Gross Pay 401(k) Sec 125 Total Hours Worked (Reg. + O.T.) 35 Taxable Pay (Federal) Taxable Pay (FICA) 2/9/2018 $ 673.08 $ 0.00 $ $ 20.19 0.00 $ 0.00 $ 0.00 $ 0.00 $ 673.08 1,346.15 155.00 $ 155.00 $ 497.89 $ 1,150.77 $ 518.08 1,191.15 2/23/2018 70 $ 1.346.15 $ 0.00 $ $ 40.38 Period Ended Total Deductions Net Pay YTD Net Pay YTD Gross Pay Benefits Election Taxable Pay Taxable Pay (Federal) (FICA) $ 497.89 $ 518.08 $ 1,150.77 $ 1,191.15 Federal Income Tax $ 0.00 Social Security Medicare Tax $ 32.12 $ $ 73.85 $ State Income | 7.51 $ 17.68 17.27 $ 40.85 $ 440.58 $ 440.58 $ 2/9/2018 2/23/2018 673.08 232.50 $ 334.35 $ $ 7.00 $ 1,011.80 $ 1,452.38 $ 2,019.23

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