Question
The Turnpike is a financial consultancy firm with five employees. The following payroll data was obtained for the month of August 2023. Virot Knoli is
The Turnpike is a financial consultancy firm with five employees. The following payroll data was obtained for the month of August 2023.
Virot Knoli is the Caretaker who also doubles as Night Watchman at times. He receives a basic pay of $50,000 per month. He is also paid a monthly protective clothing allowance of $40,000 as well as a monthly allowance of $25,000 for material aid and supplies. Knoli worked 20 regular hours of overtime in July at a standard rate of $1500 per month. He also works an additional 24 hours of overtime for night watch duty at time and a half.
Chinel Henry is the Administrative Assistant. Her basic pay is $165000. She also receives uniform allowance of 25,000 per month as well as $10,000 for material aid and supplies. Henry worked 16 hours of overtime in July at a rate of $1500 per hour.
Brandin King and Khadika Shaw are Business Development Officers. They each earn basic pay of $85,000 per month plus travelling at a rate of $140 per kilometre. They are also paid a commission on their previous months new business accounts at a rate of 5%. During July King travelled 180 kilometre and posted new business of $2,500,000 while Shaw travelled 220 kilometre and recorded new business for $3,000,000.
Tashianne Creary is the General Manager. Her annual basic pay is $7,200,000. She also earns travelling of $30,000 per month as well as entertainment allowance of $20,000 per month and housing allowance of $50,000 per month. She qualifies for a 20% duty concession if she choses to acquire a motor car up to a ceiling of $12,000,000.
All employees participate in a monthly contribution as the following:
- Health insurance at a rate of 1 % of basic pay
- Union dues of $1,200
- Pension funds at a rate of 5% of basic pay
- Staff welfare fund at a rate of 1% of basic pay
Creary, the General Manager, has a car loan arrangement and repays $120,000 per month. Virot Knoli is paid a non taxable night supper allowance at a rate of $200 per hour of night watch duty. Knoli occasionally washes and maintains the General Managers car and she hands him an envelop each month with an average of $10,000. Knoli and Henry join a partner with other workers in the shopping plaza at a rate of $2,500 per hand. Knoli throws one hand and Henry throws two hands each month.
Required:
Draft the payroll for The Turnpike for August 2023
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