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The following data for Throwback Industries Inc. relate to the payroll for the week ended December 9. Employee Hours Worked Hourly Rate Weekly Salary Federal
The following data for Throwback Industries Inc. relate to the payroll for the week ended December 9.
Employee | Hours Worked | Hourly Rate | Weekly Salary | Federal Income Tax | U.S. Savings Bonds |
---|---|---|---|---|---|
Aaron | 46 | $68.00 | $750.20 | $100 | |
Cobb | 41 | 62.00 | 537.68 | 110 | |
Clemente | 48 | 70.00 | 832.64 | 120 | |
DiMaggio | 35 | 56.00 | 366.04 | 0 | |
Griffey, Jr. | 45 | 62.00 | 641.84 | 130 | |
Mantle | $1,800 | 342.45 | 120 | ||
Robinson | 36 | 54.00 | 382.56 | 130 | |
Williams | 2,000 | 398.24 | 125 | ||
Vaughn | 42 | 62.00 | 584.72 | 50 |
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.
Payroll for Week Ending December 9 Earnings Deductions Deductions Social Seourity Federal Income US Savings Bond Total Hours 2 Employee Medicare Tax Regular Overtime 4600 172000 612.00 19%92 100 T5020 5500 $100.00 Aaron 2,480.00 53768 1000 3,640.00 Clemente 2,800.00 12000 196000 1960.00 36604 2,48000 2,945.00 13000 7 Griffey, Jr. 45.00 64184 342.45 Mantle 1800.00 1800.00 1944.00 1944.00 38256 Robinson Williams 200000V 2,000.00 398.24 125000 Vaught 2,480.00 186,00 2,666.00 5000 58472 $2,196.00 $4,836.37 $22,860.00 $885.00Step by Step Solution
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