Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Required information [ The following information applies to the questions displayed below. ] Prevosti Farms and Sugarhouse pays its employees according to their job classification.

Required information
[The following information applies to the questions displayed below.]
Prevosti Farms and Sugarhouse pays its employees according to their job classification. The following employees make
up Sugarhouse's staff: B-Schwa Joel Schwartz
55 Maple Farm Way
Woodstock, VT 05534
802-463-9985
SSN: 021-34-9876
401(k) deduction: 5%
Section 125 deduction: $100
B-Prevo Toni Prevosti
820 Westminster Road
Bridgewater, VT 05520
802-555-3456
SSN: 055-22-0443
401(k) deduction: 6%
Section 125 deduction: $155
Student Success Student B. Success
1644 Smitten Road
Woodstock, VT 05001
555-555-5555
SSN: 555-55-5555
Section 125 deduction: $100
Hire Date: 2-1-2023
Date of Birth: 4-6-1991
Position: Office Manager
Part Time or Full Time: Full Time,
exempt
Marital Status: Married Filing Jointly
Pay Rate: $32,000 per year
Dependents under 17: 2
Dependents over 17: 1
Step 4 information: none
Hire Date: 2-1-2023
Date of Birth: 5-23-1993
Position: Sales
Part Time or Full Time: Full Time,
exempt
Marital Status: Married Filing Jointly
Pay Rate: $32,000 per year base plus
3% commission per case sold
Dependents under 17: 2
Dependents over 17: 0
Step 4 information: none
Hire Date: 2-1-2023
Date of Birth: 9-19-1987
Position: Owner or President
Part Time or Full Time: Full Time,
exempt
Marital Status: Married Filing Jointly
Pay Rate: $45,000 per year
Dependents under 17: 3
Dependents over 17: 2
Step 4 information: none
Hire Date: 2-1-2023
Date of Birth: 1-1-2001
Position: Accounting Clerk
Part Time or Full Time: Full Time,
nonexempt
Marital Status: Single
Pay Rate: $34,000 per year
Dependents under 17: 0
Dependents over 17: 0
Step 4 information: none
The departments are as follows:
Department A: Agricultural Workers
Department B: Office Workers Department B: Office Workers
The first day of work for Prevosti Farms and Sugarhouse for all employees is February 1,2023. February 10 is the end of the first pay
period and includes work completed during the week of February 1-10(weekdays only). Compute the employee gross pay using 40
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 per company policy. The other hourly employees receive overtime pay when they work more than 40
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. The pay frequency for federal income tax purposes is biweekly. For nonexempt employees,
over 64 hours (8 days at 8 hours per day, except Shangraw who works 4 hours per day) in the first payroll will be overtime.
When determining the amount an exempt employee receives for partial weeks, take their salary divided by the number of weeks times
days worked. Annual salary: $35,000(525)=$35,000260=$134.61538(rounded to five decimal points) per day. Once you have
a per-day rate, multiply it by the number of days worked. Exempt employee salary information is as follows:
The hours for the nonexempt employees are as follows:
Required:
Complete the payroll register for the period's gross pay. Pay will be disbursed on February 14,2023, starting with check number 6628.
Note: Round your answers for "Hourly Rate or Period Wage" to 5 decimal places and all other answers to 2 decimal places. Hours
and dependents should be entered as whole numbers.
image text in transcribed

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

Accountancy And The Changing Landscape Of Integrated Reporting

Authors: Ioana Dragu

1st Edition

1522536221, 9781522536222

More Books

Students also viewed these Accounting questions

Question

Describe the components of identity.

Answered: 1 week ago