Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following data for Throwback Industries Inc. relate to the payroll for the week ended December 9, 2018: Hours Hourly Weekly Employee Worked Rate

image text in transcribed

The following data for Throwback Industries Inc. relate to the payroll for the week ended December 9, 2018: Hours Hourly Weekly Employee Worked Rate Salary Federal Income Tax Retirements Savings Aaron 48 $26 $310.96 $60 Cobb 44 44 435.16 105 Clemente 42 34 277.78 80 4 DiMaggio 34 281 199.92 105 Griffey, Jr. 45 42 418.95 95 Mantle. $2,100 504.00 90 Robinson 38 20 30 171.00 40 2,350 517.00 100 Williams 332.00 95 41 40 Vaughn 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, 2018. 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).

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

Corporate Financial Accounting

Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac

12th edition

1305041399, 1285078586, 978-1-133-9524, 9781133952428, 978-1305041394, 9781285078588, 1-133-95241-0, 978-1133952411

Students also viewed these Accounting questions