Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The SUTA (UI) rate for Wayland Custom Woodworking is 2.6 percent on the first $35,300. The state withholding rate is 4.95 percent October 31 October

The SUTA (UI) rate for Wayland Custom Woodworking is 2.6 percent on the first $35,300. The state withholding rate is 4.95 percent

October 31

October 31 is the end of the final pay period for the month. Employee pay will be disbursed on November 4, 2019. Compute the employee pay below. Update the Employees' Earnings Records for the period's pay and update the YTD amount. Any hours exceeding 96 during this pay period are considered overtime for nonexempt employees. Remember that the employees are paid semi-monthly.

Compute the gross earnings for regular and overtime pay for each employee for the October 31 pay period. Remember that while an hourly rate is shown for all employees, the regular pay for exempt employees should be calculated by taking their yearly salary and dividing it by the number of semimonthly pay periods in a year. The pay rates for each employee have been given from the prior period. (Round your answers to 2 decimals.)

Last Name Hourly Rate (Rounded to 5 Decimals) Pay Period Hours 10/16-10/31 Regular Overtime Commission
Chinson $11.53846 96 hours (exempt) $1,750.00
Wayland $36.05769 96 hours (exempt)
Peppinico $20.91346 96 hours (exempt)
Varden $20.19231 100 hours
Hissop $23.79808 103 hours
Success $17.30769 98 hours
Name M/S # of W/H Hourly Rate No of Regular Hours No of Overtime Hours No of Holiday Hours Commissions Gross Earnings 401(k) Insurance Taxable Wages for Federal W/H Taxable Wages for FICA
Anthony Chinson M 1 $11.53846 3% of gross $50
Mark Wayland M 5 $36.05769 6% $75
Sylvia Peppinico M 7 $20.91346 $50 per paycheck $75
Stevon Varden M 2 $20.19231 4% $50
Leonard Hissop S 4 $23.79808 3% $75
Student F Success S 1 $17.30769 3% $50
Totals
Name Gross Earning Taxable Wages for Federal W/H Taxable Wages for FICA Federal W/H Social Security Tax Medicare W/H State W/H Tax Net Pay Check No.
Anthony Chinson 174556
Mark Wayland 174557
Sylvia Peppinico 174558
Stevon Varden 174559
Leonard Hissop 174560
Student F Success 174561
Totals $0.00 $0.00

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_2

Step: 3

blur-text-image_3

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

Financial Accounting Fundamentals

Authors: John Wild

7th Edition

1260247864, 9781260247862

More Books

Students also viewed these Accounting questions

Question

The quality of the proposed ideas

Answered: 1 week ago

Question

The number of new ideas that emerge

Answered: 1 week ago