Question
The following data for Throwback Industries Inc. relate to the payroll for the week ended December 9, 20Y8: Hours Hourly Weekly Federal Retirements Employee Worked
The following data for Throwback Industries Inc. relate to the payroll for the week ended December 9, 20Y8:
Hours | Hourly | Weekly | Federal | Retirements | ||||||
Employee | Worked | Rate | Salary | Income Tax | Savings | |||||
Aaron | 43 | $44 | $450.34 | $65 | ||||||
Cobb | 48 | 38 | 424.84 | 40 | ||||||
Clemente | 45 | 46 | 415.15 | 70 | ||||||
DiMaggio | 34 | 32 | 228.48 | 35 | ||||||
Griffey, Jr. | 41 | 40 | 348.60 | 100 | ||||||
Mantle | $2,120 | 508.80 | 90 | |||||||
Robinson | 38 | 28 | 159.60 | 100 | ||||||
Williams | 2,370 | 521.40 | 85 | |||||||
Vaughn | 44 | 36 | 331.20 | 35 |
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%, and Medicare tax is 1.5% of each employee's 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, 20Y8. Assume the normal working hours in a week are 40 hours. Enter amounts as positive numbers. Round your intermediate calculations and final answers to the nearest whole cent (two decimal places).
Payroll for Week Ending December 9, 20Y8 | |||||||||||||
Earnings | Deductions Withheld | Paid | Accounts Debited | ||||||||||
Name | Total Hours | Regular | Overtime | Total | Social Security Tax | Medicare Tax | Federal Income Tax | Retirement Savings | Total | Net Pay | Ck. No. | Sales Salaries Expense | Office Salaries Expense |
Aaron | 43 | $ | $ | $ | $ | $ | $450.34 | $65 | $ | $ | 901 | $ | |
Cobb | 48 | 424.84 | 40 | 902 | |||||||||
Clemente | 45 | 415.15 | 70 | 903 | |||||||||
DiMaggio | 34 | 228.48 | 35 | 904 | |||||||||
Griffey, Jr. | 41 | 348.60 | 100 | 905 | |||||||||
Mantle | 508.80 | 90 | 906 | $ | |||||||||
Robinson | 38 | 159.60 | 100 | 907 | |||||||||
Williams | 521.40 | 85 | 908 | ||||||||||
Vaughn | 44 | 331.20 | 35 | 909 | |||||||||
Totals | $ | $ | $ | $ | $ | $ | $ | $ | $ | $ | $ |
2. Journalize the entry to record the payroll for the week. If required, round your answers to two decimal places. If an amount box does not require an entry, leave it blank.
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