Question
The following data for Throwback Industries Inc. relate to the payroll The total amount paid to employees for a certain period. for the week ended
The following data for Throwback Industries Inc. relate to the payroll
The total amount paid to employees for a certain period.
for the week ended December 9, 2016:
Employee | Hours Worked | Hourly Rate | Weekly Salary | Federal Income Tax | U.S. Savings Bonds |
---|---|---|---|---|---|
Aaron | 43 | $70 | $689.44 | $120 | |
Cobb | 43 | 58 | 539.92 | 130 | |
Clemente | 45 | 64 | 668.44 | 140 | |
DiMaggio | 39 | 52 | 377.80 | 0 | |
Griffey, Jr. | 48 | 64 | 749.08 | 150 | |
Mantle | $1,700 | 317.45 | 140 | ||
Robinson | 38 | 53 | 387.32 | 150 | |
Williams | 2,100 | 426.24 | 145 | ||
Vaughn | 48 | 64 | 770.08 | 80 |
Employees Mantle and Williams are office staff, and all of the other employees are sales personnel. All sales personnel are paid 1 times the regular rate for all hours in excess of 40 hours per week. The social security tax rate is 6.0%, and Medicare tax is 1.5% of each employees annual earnings. The next payroll check to be used is No. 901.
Required: | |
1. | Prepare a payroll register for Throwback Industries Inc. for the week ended December 9, 2016. Assume the normal working hours in a week are 40 hours. Enter amounts as positive numbers and round your intermediate calculations and final answers to the nearest whole cent (two decimal places). |
2. | Journalize the entry to record the payroll for the week. If required, round your answers to two decimal places. Refer to the Chart of Accounts for exact wording of account titles. |
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