Preethi is a salaried, nonexempt administrative assistant and is paid semimonthly. Preethi is married filing jointly with five dependents under 17. Annual salary is $80,600 with a standard work week of 37.5 hours, and the employer will pay overtime for excess hours over 37.5. During the pay period, 10 hours of overtime were worked. Required: Compute the gross pay for the period ending August 18. Note: Do not round intermediate computations. Round your final answers to 2 decimal places. Period Ended: 08/18/xxxx Name Filing Status Dependents Period Salary Hourly Rate Number of Regular Hours Number of Overtime Hours Overtime Gross Regular Earnings Earnings Earnings Preethi MJ 5<17 + 10.00

Preethi is a salaried, nonexempt administrative assistant and is paid semimonthly. Preethi is married filing jointly with five dependents under 17. Annual salary is $80,600 with a standard work week of 37.5 hours, and the employer will pay overtime for excess hours over 37.5. During the pay period, 10 hours of overtime were worked. Required: Compute the gross pay for the period ending August 18. Note: Do not round intermediate computations. Round your final answers to 2 decimal places. Period Ended: 08/18/xxxx Name Filing Status Dependents Period Salary Hourly Rate Number of Regular Hours Number of Overtime Hours Overtime Gross Regular Earnings Earnings Earnings Preethi MJ 5<17 + 10.00

PAYROLL ACCT.,2019 ED.(LL)-TEXT

19th Edition

ISBN:9781337619783

Author:BIEG

Publisher:BIEG

Chapter4: Income Tax Withholding

Section: Chapter Questions

Problem 5SSQ

See similar textbooks

Similar questions

Jody Baush is a salaried employee who normally works a 35-hour week and is paid a weekly salary of 735.00. The agreement that he has with his employer states that his salary is to cover all hours worked up to and including 40. This week, Baush worked 42 hours. Calculate his gross pay. Gross pay_________
Payrex Co. has six employees. All are paid on a weekly basis. For the payroll period ending January 7, total employee earnings were 12,500, all of which were subject to SUTA, FUTA, Social Security, and Medicare taxes. The SUTA tax rate in Payrexs state is 5.4%, but Payrex qualifies for a rate of 2.0% because of its good record of providing regular employment to its employees. Other employer payroll taxes are at the rates described in the chapter. REQUIRED 1. Calculate Payrexs FUTA, SUTA, Social Security, and Medicare taxes for the week ended January 7. 2. Prepare the journal entry for Payrexs payroll taxes for the week ended January 7. 3. What amount of payroll taxes did Payrex save because of its good employment record?
Stephanie Parker is a salaried, nonexempt administrator for Forise Industries and is paid biweekly. Her annual salary is $39,000, and her standard workweek is 45 hours. During the pay period ending February 3, 20XX, she worked 8 hours overtime. She is single with two withholding allowances. Required: Complete the following payroll register for Stephanie's pay. (Do not round intermediate calculations. Round your final answers to 2 decimal places.) Company Name Stephanie Parker Forise Industries M/S # of W/H Annual Salary Hourly Rate Overtime Rate No. of Regular Hours Period Ended: No. of Overtime Regular Hours Earnings 2/3/20XX Overtime Earnings Gross Earnings
Stephanie Parker is a salaried, nonexempt administrator for Forise Industries and is paid biweekly. Her annual salary is $63,000, and her standard workweek is 45 hours. During the pay period ending February 5, 2021, she worked 8 hours overtime. She is married filing jointly with two dependents under the age of 17. Required: Complete the following payroll register for Stephanie's pay. (Do not round intermediate calculations. Round your final answers to 2 decimal places.) Company Name Stephanie Parker Forise Industries Filing Status MJ Annual Dependents Salary 2<17 ♥ 63,000.00 Period Salary $ 2,423.08 Hourly Rate $ 53.85 Answer is complete but not entirely correct. Period Ended: Overtime Rate $ 80.77 X Number of Regular Hours 40.00 X Number of Overtime Hours 8.00 $ Regular Earnings 2,423.25 2/5/2021 Overtime Earnings Gross Earnings $ 646.16 S 3,069.41 X
Parker is a salaried, nonexempt administrator for Forise Industries and is paid biweekly. The annual salary is $66,600 with a standard workweek of 40 hours. During the pay period ending February 3, 2023, Parker worked 8 hours of overtime. Parker is married filing Jointly with two dependents under the age of 17. Required: Complete the following payroll register for Parker's pay. Note: Round your intermediate calculations and final answers to 2 decimal places. Company Forise Industries Name Filing Status Period Salary Hourly Rate Dependents Parker Total Period Ended: 2/3/2023 Number of Regular Hours Number of Overtime Regular Earnings Overtime Earnings Gross Earnings Hours $ 0.00 $ 0.00 $ 0.00
Bobby Howard is a salaried exempt employee at Coric Industries. He is married filing jointly with two dependents under 17. His contract stipulates a 40-hour workweek at $68,000 per year. During the week ending November 27, there was a company-paid holiday for one day. Required:Calculate Bobby’s weekly pay. (Do not round intermediate calculations. Round "Hourly Rate" to 5 decimal places and all other answers to 2 decimal places.)
Parker is a salaried, nonexempt administrator for Forise Industries and is paid biweekly. The annual salary is $65,200 with a standard workweek of 40 hours. During the pay period ending February 4, 2022, Parker worked 8 hours of overtime. Parker is married filing jointly with two dependents under the age of 17. Required: Complete the following payroll register for Parker's pay. Note: Round your intermediate calculations and final answers to 2 decimal places. Company Name Parker Total Forise Industries Period Filing Status Dependents Salary Hourly Rate Period Ended: Number of Number of Overtime Regular Hours Hours Regular Earnings $ 2/4/2022 Overtime Earnings Gross Earnings 0.00 $ 0.00 $ 0.00
Dennis Murphy is a salaried, nonexempt administrative assistant for Dionti Investments and is paid semimonthly. He is married filing joint with five dependents under 17. His annual salary is $91,000, and his standard workweek is 37.5 hours. During the pay period, he worked 10 hours overtime. Find the hourly rate, overtime rate, and the number of regular hours and overtime hours.
Low Country Goods has four employees and pays them on an hourly basis. During the week beginning June 24 and ending June 30, these employees worked the hours shown below. Information about hourly rates, marital status, federal income tax withheld, and cumulative earnings prior to the current pay period also appears below. Consider any hours worked beyond 40 in the week as overtime hours and overtime pay at one and one-half times their regular hourly rate Employee Regular Hours Worked Marital Federal Income Taxi Hourly Rate Status Withheld Cumulative Earnings Amora Brandon: 48 $ 12.60 M 52.00 $ 17,630 Carlos Cortez 49 11.40 21.00 16,965 Jane Jennings Sarah Wise Required: 40 51 11.10 10.60 23.00 57.00 16,070 14,650 1. Enter the basic payroll information for each employee in a payroll register Record the employee's name, marital status, total and overtime hours, and regular hourly rate Note: Consider any hours worked beyond 40 in the week as overtime hours and overtime pay at one and…
Latan is an employee of Giant Computers where the job responsibilities include selling computers and software to customers. Latan is married filing jointly with two dependents under 17. The annual salary is $49,200 and receives a 3 percent commission on all sales. During the semimonthly pay period ending September 30, Latan sold $21,200 of computers and software. Required: Complete the payroll register for the September 30 pay period with a pay date of October 5. P/R End Date: Check Date: Latan Totals Name 9/30/2022 10/5/2022 Filing Status Dependents Hourly Rate or Period Wage Company Name: Number of Regular Hours Number of Overtime Hours Giant Computers Commissions $ 0 Regular Earnings $ 0 Overtime Earnings Gross Earnings $
Helen Strand's regular hourly wage rate is $14, and she receives an hourly rate of $21 for work in excess of 40 hours. During a January pay period, Helen works 47 hours. Helen's federal income tax withholding is $86.00, and she has no voluntary deductions. Assume that the FICA tax rate is 7.65%. Prepare the employer's journal entries to record (a) Helen's pay for the period and (b) the payment of Helen's wages. Use January 15 for the end of the pay period and the payment date. (Round answers to 2 decimal places, e.g. 15.25. List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) No. Date Account Titles and Explanation (a) (b) Jan. 15 Jan. 15 Debit Credit
Patricia Strand’s regular hourly wage rate is $22, and she receives an hourly rate of $33 for work in excess of 40 hours. During a January pay period, Patricia works 48 hours. Patricia’s federal income tax withholding is $95.00, and she has no voluntary deductions. Assume that the FICA tax rate is 7.65%.Prepare the employer’s journal entries to record (a) Patricia’s pay for the period and (b) the payment of Patricia’s wages. Use January 15 for the end of the pay period and the payment date. (Round answers to 2 decimal places, e.g. 15.25. Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Debit Credit (a) Jan. 15 enter an account title to record Betsy's pay for the period on January 15 enter a debit amount enter a credit amount enter an account title to record Betsy's pay for the period on January 15 enter a debit amount enter a credit amount enter an…