During one week, four production employees of Pisgah Properties worked the hours shown below. All these employees receive overtime pay at one and one-half times their regular hourly rate for any hours worked beyond 40 in a week. Determine the regulam earnings, overtime earnings, and gross earnings for each employee. Note: Round your intermediate calculations and final answers to 2 decimal places. Employee Hourly Number Rate Total Hours Worked Overtime Rate Overtime Hours Worked Regular Overtime Gross Earnings Earnings Earnings 1 $ 9.90 44 2 9.62 45 3 9.46 37 4 9.70 46
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- The total wages and salaries earned by all employees of James Industries during the month of February, as shown in the labor cost summary and the schedule of fixed administrative and sales salaries, are classified as follows: a. Prepare a journal entry to distribute the wages earned during February. b. What is the total amount of payroll taxes that will be imposed on the employer for the payroll, assuming that three administrative employees with combined earnings this period of 4,500 have exceeded 8,000 in earnings prior to the period?R. Herbert of Crestview Manufacturing Co. is paid at the rate of 20 an hour for an eight-hour day, with time-and-a-half for overtime and double-time for Sundays and holidays. Regular employment is on the basis of 40 hours a week, five days a week. At the end of a week, the labor time record shows the following: Because jobs are randomly scheduled for the overtime period, any overtime premium is charged to Factory Overhead. a. Compute Herberts total earnings for the week. b. Present the journal entry to distribute Herberts total earnings. (Note: These single journal entries here and in E3-2, E3-3, E3-4, E3-8 and E3-9 are for the purpose of illustrating the principle involved. Normally, the entries would be made for the total factory payroll plus the administrative and sales payroll.)The total wages and salaries earned by all employees of Langen Electronics, Ltd. during March, as shown in the labor cost summary and the schedule of fixed administrative and sales salaries, are classified as follows: a. Prepare a journal entry to distribute the wages earned during March. b. What is the total amount of payroll taxes that will be imposed on the employer for the payroll, assuming that two administrative employees with combined earnings this period of 3,000 have exceeded 8,000 in earnings prior to the period?
- Kyle Forman worked 47 hours during the week for Erickson Company at two different jobs. His pay rate was 14.00 for the first 40 hours, and his pay rate was 11.80 for the other 7 hours. Determine his gross pay for that week if the company uses the one-half average rate method. a. Gross pay__________ b. If prior agreement existed that overtime would be paid at the rate for the job performed after the 40th hour, the gross pay would be________Barbara Ripa receives 695 for a regular 40-hour week and time and one-half for overtime. For a workweek of 45 hours, compute: a. The regular earnings________ b. The overtime earnings________ c. The total earnings________Potts, Inc., recently converted from a 5-day, 40-hour workweek to a 4-day, 40-hour workweek, with overtime continuing to be paid at one and one-half times the regular hourly rate for all hours worked beyond 40 in the week. In this company, time is recorded under the continental system, as shown on the time card on the following page. Sue Ellen Boggs is part of the Group B employees whose regular workweek is Tuesday through Friday. The working hours each day are 800 to 1200; 1230 to 1630; and 1800 to 2000. The company disregards any time before 800, between 1200 and 1230, and between 1630 and 1800, and permits employees to ring in up to 10 minutes late before any deduction is made for tardiness. Deductions are made to the nearest of an hour for workers who are more than 10 minutes late in ringing in. Refer to the time card and compute: a. The daily total hours ..........................................................................___________ b. The total hours for the week ...............................................................___________ c. The regular weekly earnings ................................................................___________ d. The overtime earnings (company rounds O.T. rate to 3 decimal places)___________ e. The total weekly earnings .....................................................................__________
- A weekly payroll summary made from labor time records shows the following data for Pima Company: Overtime is payable at one-and-a-half times the regular rate of pay and is distributed to all jobs worked on during the period. a. Determine the net pay of each employee. The income taxes withheld for each employee amount to 15% of the gross wages. b. Prepare journal entries for the following: 1. Recording the payroll. 2. Paying the payroll. 3. Distributing the payroll. (Assume that the overtime premium will be charged to all jobs worked on during the period.) 4. The employers payroll taxes. (Assume that none of the employees has achieved the maximum wage bases for FICA and unemployment taxes.)Costa, Inc., recently converted from a 5-day, 40-hour workweek to a 4-day, 40-hour workweek, with overtime continuing to be paid at one and one-half times the regular hourly rate for all hours worked beyond 40 in the week. In this company, time is recorded under the continental system, as shown on the time card on the following page. Barbara Bansta is part of the Group B employees whose regular workweek is Tuesday through Friday. The working hours each day are 800 to 1200; 1230 to 1630; and 1800 to 2000. The company disregards any time before 800, between 1200 and 1230, and between 1630 and 1800, and permits employees to ring in up to 10 minutes late before any deduction is made for tardiness. Deductions are made to the nearest of an hour for workers who are more than 10 minutes late in ringing in. Refer to the time card and compute: a. The daily total hours ..........................................................................___________ b. The total hours for the week ...............................................................___________ c. The regular weekly earnings ................................................................___________ d. The overtime earnings (company rounds O.T. rate to 3 decimal places)___________ e. The total weekly earnings .....................................................................__________Determine the gross pay and the net pay for each of the three employees for the current pay period. Assume the normal working hours in a week are 40 hours. If required, round your answers to two decimal places.
- Kyle Forman worked 45 hours during the week for Erickson Company at two different jobs. His pay rate was $14.75 for the first 40 hours, and his pay rate was $11.30 for the other 5 hours. Round your overtime rate and other interim computations to two decimal places and use the rounded amount in subsequent computations. Round the final answers to the nearest cent. Determine his gross pay for that week if the company uses the one-half average rate method. a. Gross pay $ fill in the blank 1 b. If prior agreement existed that overtime would be paid at the rate for the job performed after the 40th hour, the gross pay would be $ fill in the blank 2The wages and hours information for five employees of Somja Enterprises for the week ended April 7 is given below. Employees work a standard 40-hour workweek and are paid time and one-half for all hours over 40 in each workweek. If required, round your answers to two decimal places and use the rounded answers in subsequent computations. Round your final answers to the nearest cent. a. For each employee, compute the regular earnings, overtime rate, overtime earnings, and total gross earnings. b. Compute the total gross earnings for all employees. Employee Hours Worked Regular Hourly Wage Rate Regular Earnings Overtime Rate Overtime Earnings Total Gross EarningsWilson, H. 43 $11.90 $ $ $ $Aha, C. 42 14.20 Shoup, K. 47 13.90 Carlyn, D. 41½ 10.70 McMurray, J. 45 17.10An employee with an annual salary of $77278 is paid every month. What is the gross pay per pay period? Report your answer to two decimal places AND with correct units. Answer: