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 | 42 | $40 | $395.60 | $40 | ||||||
Cobb | 46 | 28 | 294.98 | 95 | ||||||
Clemente | 43 | 36 | 304.38 | 45 | ||||||
DiMaggio | 34 | 38 | 271.32 | 45 | ||||||
Griffey, Jr. | 48 | 44 | 480.48 | 110 | ||||||
Mantle | $2,270 | 544.80 | 95 | |||||||
Robinson | 38 | 32 | 182.40 | 60 | ||||||
Williams | 2,540 | 558.80 | 90 | |||||||
Vaughn | 45 | 46 | 437.00 | 45 |
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).
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