calculating gross earnings THe lw pay its employees on a hourly wage. Fing gross earings for each employee.  Hours                              worked hours    wage gross earnings pat          38                          5.96 steve        23                        5.50 mary         32                      6.19

Which of the following accounts represents the "take-home pay" or "net pay" related to employees? EMPLOYEE BENEFITS PAYABLE OPAYROLL TAX EXPENSE SALARY EXPENSE SALARY PAYABLE TO EMPLOYEES

Using job order costing in a service company Roth Accounting pays Jack Smith $90,000 per year.</p><p> Requirements What is the hourly cost to Roth Accounting for employing Smith? Assume a 30-hour week and a 50-week year. What direct labor cost would be assigned to Client 507 if Smith works 15 hours to prepare Client 507’s financial statements?

Kline Manufacturing has the following labor costs.   Factory - Gross wages = $195,000   Factory - Net wages = $160,000   Employer Payroll Taxes Payable = $25,000   The entry to record the cost of factory labor and the associated payroll tax expense will include a debit to Factory Labor for what amount?

The following data for Throwback Industries Employee Hours Worked Hourly Rate Aaron 46 $68.00 $750 20 Cobb 41 Clemente 48 DiMaggio 35 Griffey, Jr.. 45 Mantle 62.00 70.00 56.00 62.00 $1,800 Robinson 36 54.00 Williams 2,000 Vaughn 42 62.00 537.68 832.64 366.04 Inc. relate to the payroll for the week ended December 9, Weekly Salary Federal Income Tax U.S. Savings Bonds $100 110 120 0 641.84 130 342.45 382.56 398 24 584.72 120 130 125 50 Employees Mantle and Williams are office staff, and all of the other employees are sales personnel All sales personnel are paid 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 employee's annual earnings. The next payroll check to be used is No. 901. Instructions 1. Prepare a payroll summary for Throwback Industries Inc. for the week ended December 9. Round all calculations to the nearest cent. Use the following columns: Employee, Total Hours, Regular Earnings,…

Why might a company claim that the total cost of employing a person is $15.30 per hour when the employee's wage rate is $10.50 per hour? How should this difference be classified and why?

Problem 10.1A (Static) Computing gross earnings, determining deductions, journalizing payroll transactions. LO 10-2, 10-3, 10-4, 10-5, 10-7 Robin Market works for Cycle Industries. Her pay rate is $14.50 per hour and she receives overtime pay at one and one-half times her regular hourly rate for any hours worked beyond 40 in a week. During the pay period that ended December 31, 20X1, Robin worked 42 hours. She is married and claims three withholding allowances on her W-4 form. Robin's cumulative earnings prior to this pay period total $32,000. This week's wages are subject to the following deductions: 1. Social Security tax at 6.2 percent 2. Medicare tax at 1.45 percent 3. Federal income tax (use the withholding table shown in Figure 10.2b) 4. Health and disability insurance premiums, $180 5. Charitable contribution, $25 ces Required: 1. Compute Robin's regular, overtime, gross, ahd net pay. 2. Assuming the weekly payroll has been recorded, journalize the payment of her wages for the…

Hours Worked Hourly pay rate Gross pay (must show your work) 40 $15

Pay rate employers are required to pay certain employees covered by state and federal laws; the Fair Labor Standards Act of 1938 sets the rate at 1.5 times the regular hourly rate after 40 hours per week is known as ____________.         payroll clerk         payroll         overtime rate         pay period

Salaries and wages earned Employee income taxes withheld FICA taxes withheld Unemployment taxes Required: 1. Considering both employee and employer payroll taxes, use the preceding information to calculate the total labor cost for the company for March. 2. & 3. Prepare the journal entry to record the payroll for March, including employee deductions (but excluding employer payroll taxes) and record employer's FICA taxes and unemployment taxes. Complete this question by entering your answers in the tabs below. Req 1 $ 470,000 43,475 33,605 3,265 Req 2 and 3 Total Labor Cost Considering both employee and employer payroll taxes, use the preceding information to calculate the total labor cost for the company for March. < Req 1 Req 2 and 3