Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The first day of work for Prevosti Farms and Sugarhouse for all employees is February 3, 2020. February 7 is the end of the first

The first day of work for Prevosti Farms and Sugarhouse for all employees is February 3, 2020. February 7 is the end of the first pay period for Prevosti Farms and Sugarhouse and includes work completed during the week of February 3-7. 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 per company policy. The other hourly employees receive overtime pay when they work more than 35 hours in one week. Joel Schwartz has made $2,400 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 3.35 percent of taxable wages (i.e., gross pay less pre-tax deductions).The same deductions are allowed for state as for federal.image text in transcribedimage text in transcribed

Initial pre-tax deductions for each employee are as follows: Number A-Mille None Thomas Millen Nane and Address Thomas Millen 1022 Forest School Road Woodstock, VT 5201 882-478-5055 SSN: 031-11-3456 401(k) deduction: 3% Section 125 deduction: $110.00 Avery Towle Charlie Long A-Towle Mary Shangra Avery Towle 4011 Route 100 Plymouth, VT 05102 892-967-9873 SSN: 089-74-9974 401(k) deduction: 5% Section 125 deduction: $95.28 Deduction Insurance: $118.be/paycheck 401(k): 3% of gross pay Marital Status: Married Insurance: $95.0/paycheck 401(k): 5% of gross pay Marital Status: Single Insurance: $110.ae/paycheck 401(k): 26 of gross pay Marital Status: Married Insurance: $95.ee/paycheck 401(k): 3% of gross pay Marital Status: Single Insurance! $110.00/paycheck 401(k): 4% of gross pay Marital Status: Married Insurance: $95.00/paycheck 401(k): 5% of gross pay Marital Status: Married Insurance: $110.68/paycheck 401(k): 6% of gross pay Marital Status: Married Insurance: $95.00/paycheck 401(k): 2% of gross pay Marital Status: Single Kristen Lewis Joel Schwartz A-LONE Toni Prevosti Charlte Long 242 Benedict Road S. Woodstock, VT 95802 802-429-3846 SSN: 856-23 4593 401(k) deduction: 2% Section 125 deduction: $118.08 Student Success B-Shang Mary Shangraw 1981 Main Street #2 Bridgewater, VT 05520 882-575-5423 SSN: 275-28-8945 401(k) deduction: 3% Section 125 deduction: $95.ea E-Lewis Kristen Leus 840 Daily Hollow Road Bridgewater, VT 65523 802-390 5572 SSN: 875-39-5673 481(k) deduction: 4% Section 125 deduction: $110.00 Payroll informatio Hire Date: 2-3-2020 DOB: 12-16 1082 Position Production Manager PT/FT: FT, exempt M/S: Married/Joint Pay Rate: $36,500/year Dependents under 17: Dependents over 17: 1 Step 4 information: none Hire Date: 2-5-2020 DOB: 7-14-1991 Position: Production Worker PT/FT: FT, nonexempt M/S: Single Pay Rate: $18.4e/hour Dependents under 17: Dependents over 17: 0 Step 4 information: none Hire Date: 2-3-2928 DOB: 3-15-1987 Position: Production Worker PT/FT: FT, nonexenpt H/S: Married/Joint Pay Rate: $11.40/hour Dependents under 17: 2 Dependents over 17: @ Step 4 information: none Hire Date: 2-3-2020 008: 8-20- 1994 Position: Administrative Assistant PT/FT: PT) nonexempt M/S: Single Pay Rate: $9.20/hour Dependents under 17: B Dependents over 17: 1 Step 4 information: none Hire Date: 2-3-2020 DOB: 4-6-1960 Position: Office Manager PT/FT FT, exempt M/S: Married/Joint Pay Rate: $32,900/year Dependents under 17: 2 Dependents over 17: 1 Step 4 information: none Hire Date: 2-3-2020 008: 5-23-1985 Position: Sales PT/FT FT, exempt M/S: Married/Joint Pay Rate: $24,750/year base plus 3% comission per case sold Dependents under 17: 2 Dependents over 17: @ Step 4 information: none Mire Date: 2-3-2020 DOB: 9-18-1967 Position: Owner/President PT/FTI FT. exempt M/S: Married/Joint Pay Rate: $47,100/year Dependents under 17: 3 Dependents over 17: 2 Step 4 information: none Hire Date: 2-3-2028 DOB: 1-1-1991 Position: Accounting clerk PT/FT FT, nonexempt M/S: Single Pay Rate: $19,656/year Dependents under 17: Dependents over 17: @ Step 4 information: none The first day of work for Prevosti Farms and Sugarhouse for all employees is February 3, 2020 February 7 is the end of the first pay period for Prevosti Farms and Sugarhouse and includes work completed during the week of February 3-7. 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 per company policy. The other hourly employees receive overtime pay when they work more than 35 hours in one week. Joel Schwartz has made $2,400 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 3.35 percent of taxable wages (ie, gross pay less pre-tax deductions. The same deductions are allowed for state as for federal. February 21, 2020, is the end of the final pay period for the month. Schwartz has sold $3.600 of product during this pay period at a 3 percent commission. Pay will be disbursed on February 26, 2020, and check numbers will continue from prior payroll. The hours for the nonexempt employees are as follows: B-Schwa Joel Schwartz 55 Maple Farn Way woodstack, VT 95514 Be2-463-9955 SSN: 021-34-9876 401(k) deduction: 58 Section 125 deduction: $95.00 Name Towle Long Shangra Success (You) Hourly rate $10.40000 $11.40960 $9.2001 $10.2008 Hours worked 2/3-2/7 35 hours 40 hours 21 hours 35 hours 3-Prevo Toni Prevosti 820 Westminster Road Bridgewater, VT 65520 BE2-555-3456 SSN: 055-22-0443 401(k) deduction: 6% Section 125 deduction: $110.ee Name Towle Long Shangraw Success You) Hourly rate $10.40000 $11.40000 $9.20000 $10.82000 Hours worked 2/10-2/21 BB hours 79 hours 42 hours 71 hours B-Student Student Success 1644 Smitten Road Woodstock, VT 05001 (555)-555-5555 SSN: 555-55-5555 401(k) deduction: 25 Section 125 deduction: $95.00 Required: Complete the payroll register for this pay period and update the Employee Eamings Record form for each employee with the corresponding information. The Step-2 of Form W-4 is unchecked. 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 Check Date 2/12/2020 Name Filing Status No. of Overtime Hours Dependents No. of Holiday Hours Insurance Commissions Gross Earning 401(K) Insurance Taxable Wages for Federal W/H Taxable Wages for FICA MJ S Thomas Millen Avery Towle Charlie Long Mary Shangraw Kristen Lewis Joel Schwartz Toni Prevosti Student Success MJ Hourly rate or Period wage 19.23077 > 10.40000 11.40000 9.20000 18.07692 x 13.59890 X 3

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

Biometric And Auditing Issues Addressed In A Throughput Model

Authors: Waymond Rodgers

1st Edition

1617356530, 978-1617356537

More Books

Students also viewed these Accounting questions