None K. Mello Company has three employees-a consultant, a computer programmer, and an administrator. The following payroll information is available for each employee:Computer ProgrammerRegular earnings rateConsultant$3,210 per weekOvertime earnings rateNot applicable$925$32 per hourAdministrator$42 per hour2 times hourly rate 1.5 times hourly rateFederal income tax withheld$240For hourly employees, overtime is paid for hours worked in excess of 40 hours per week.$515For the current pay period, the computer programmer worked 54 hours and the administrator worked 63 hours. Assume that the social security tax rate was 6.0%, and the Medicare tax rate was1.5%.This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below.☑Open spreadsheetDetermine 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. When required roundintermediate calculations and final answers to two decimal places.Gross payNet payConsultantComputer ProgrammerAdministrator

Gross pay refers to the total earnings made by an employee before making any deductions. The gross…

K. Mello Company has three employees-a cons Consultant Regular earnings rate $3,210 per wee Overtime earnings rate Federal income tax withheld Not applicab $92 For hourly employees, overtime is paid for hou For the current pay period, the computer prog 1.5%. This information has been collected in the Micr X Open spreadsheet Determine the gross pay and the net pay for e intermediate calculations and final answe Consultant Gross pay Net pay

K. Mello Company has three employees-a cons Consultant Regular earnings rate $3,210 per wee Overtime earnings rate Federal income tax withheld Not applicab $92 For hourly employees, overtime is paid for hou For the current pay period, the computer prog 1.5%. This information has been collected in the Micr X Open spreadsheet Determine the gross pay and the net pay for e intermediate calculations and final answe Consultant Gross pay Net pay

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter7: Employee Earnings And Deductions

Section: Chapter Questions

Problem 3PA

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An analysis of the payroll for the month of November for CinMar Inc. reveals the information shown: All regular time Andrews, Lomax, and Herzog are production workers, and Dimmick is the plant manager. Hendrick is in charge of the office. Cumulative earnings paid (before deductions) in this calendar year prior to the payroll period ending November 8 were as follows: Andrews, 21,200; Lomax, 6,800; Herzog, 11,500; Dimmick, 116,200; and Hendrick, 32,800. The solution to this problem requires the following forms, using the indicated column headings: 1. Prepare an employee earnings record for each of the five employees. 2. Prepare a payroll record for each of the four weeks. 3. Prepare a labor cost summary for the month. 4. Prepare journal entries to record the following: a. The payroll for each of the four weeks. b. The payment of wages for each of the four payrolls. c. The distribution of the monthly labor costs per the labor cost summary. d. The company's payroll taxes covering the four payroll periods.
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.)
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?
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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.)
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In the space provided below, prepare the journal entry to record the November payroll for all employees assuming that the payroll is paid on November 30 and that Joness cumulative gross pay (cell I13) is 85,000.
Accounting for bonus and vacation pay Cathy Muench a factory worker, earns 1,000 each week. In addition, she will receive a 4,000 bonus at year-end and a four-week paid vacation. Prepare the entry to record the weekly payroll and the costs and liabilities related to the bonus and the vacation pay, assuming that Muench is the only employee.