Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The bookkeeper of Butterfly Co. gathered the following data from individual employee earnings records and daily time cards. Your task is to complete a payroll
The bookkeeper of Butterfly Co. gathered the following data from individual employee earnings records and daily time cards. Your task is to complete a payroll register on October 13. (Round deductions to the nearest cent as needed. If a box is not used in the table leave the box empty; do not enter a zero. Abbreviations used: Allow. = Allowances, YTD = Year to date, FIT = Federal Income Tax, SIT = State Income Tax, Exp. = Expense.) [ (Click the icon to view the data ) 0 (Click the icon to view the assumptions.) Prior Current Employee W-4 Eamings Regular Overtime Gross Eamings Name Allow. (YTD) Salary Hours Rate Amount Hours Rate Amount Pay (YTD) Keys, P. M-1 Hale, D S-0 Wood, R M-3 Gray, J 81 Taxable Earnings Deductions Account Charged Employee FUTA! FICA Med Net Ck Name SUTA OASDI FIT SIT OASDI || Medicare Ins Pay # Office Sales Keys. P. Hale, D. Wood, R Gray, J Data table Allowance and Cumulative Earnings Daily Time Hourly Rate Employee Marital Status Before This Payroll M T W T F of Pay FIT Keys, Phil M-1 $ 21,000 8 6 6 6 6 $ 16 $ 140 Hale, Dawn S-0 13,500 8 7 4 2 10 23 Wood, Rocky M-3 117,350 12 6 7 8 9 19 44 Gray, Jason S-1 18,000 11 5 8 8 10 28 189 Print DoneMore info Assume the following: 1. FICA OASDI is 6.2% on $127 ,200; FICA Medicare i= 1.45% on all earnings. 2. Federal income tax has been calculated from a weekly table for you. 3. Each employee contributes 534 weekly for health insurance. 4. Overtime is paid at a rate of 1.5 over 40 hours. 5. Keys and Wood work in the office; the other employees work in sales
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started