0010 40 2 $15 $645 $57.00 $43.61 $15 $5 0011 40 8 $15 $780 $78.00 $59.67 $15 $0 1101 $48,000 $923 $138.46 $70.62 $200 $12 Calculate the net pay for employee 0010. The overtime rate is time-and-a-half. A. $627.33 B. $768.00 C. $501.92 D. $524.39
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- Complete the following table (assume the overtime for each employee is a time-and-a-half rate after 40 hours): (Do not round intermediate calculations. Round your "overtime rate" and "gross earnings" to the nearest cent.) Total regular hours Total overtime hours Employee Regular Gross M T W Th Sa rate Overtime rate earnings Ryan 12 8 10 8 6 3 40 $7.80 11.70 24 1.50Complete the following table (assume the overtime for each employee is a time-and-a-half rate after 40 hours): (Do not round Intermediate calculations. Round your "overtime rate" and "gross earnings" to the nearest cent.) Total Total regular overtime Regular Gross Employee MT W Th F Sa hours hours rate Overtime rate earnings Ryan 12 8 10 6 3 40 7 $7.80 esAssume an employee has a gross pay of $500 and vacation pay is paid out at 4%. How much extra gross pay does the employee receive on their paycheque? Select one: a. $500 O b. $0 c. $20 d. $480
- Problem 2. A weekly payroll summary made from time tickets shows the following data: A weekiy payroii su mai y mauv uv . Exemption Status S Number of Hours Rate/Hour Regular Overtime 40 40 + Employe Austria, B. Bautista, D. De Santos, M. Motus, R. Reyes, A. Classification Direct Direct Direct Indirect 36 36 МЕ 45 40 4 МЕ-2 30 40 4. Indirect HF 30 40 HF Overtime is payable at one-and-a-half times the regular rate of pay for an employee. Required • a) Determine the net pay for each employee. b) Prepare journal entries for: • recording the payroll. payment of the payroll. • distribution of the payroll. • the employer's payroll taxes.Eployees Salary Details Total Income Tax (12 Employee Total Hours Overtime Other Pay/Hour Overtime Gross Pay Net Pay Worked our Deductibles Name Hours Ahmad 150 10 SA000 SS52.00 S3.54.00 120 10 $2.0000 5340.00 S1.760.00 $2.54.00 S4.202.00 15 Fatima S25.0 180 20 S4.900.0 SSBL.00 1525 13.75 S1.2L.00 10 The employee with the max net salary is: Fatima 13 14 15 17 1- Build the table shown above exactly the same. (pay attention to the styling ex.Merged cells, Borders and alignment). 2- Name the worksheet as " Payroll". 3- Calculate the Gross Pay using the formula: ( Total hours worked * pay/hours + total overtime hours * overtime/hour) 4- Calculate the income tax using the formula ( income tax percentage * gross pay → 0.12*gross pay). 5- Add the other deductibles column as it is. 6- Calculate the net pay by using the formula ( gross pay - (income tax + other deductibles). 7- Merge the cells B10:E11) as shown. 8- Find the maximum and minimum values in net pay column and highlight them. 9.…pay at one and one-half times their regular hourly rate. E TTTT T Marital Withholding Allowances Cumulative Earnings $32,860 53,972 57,300 26,620 Hours Regular Worked Hourly Rate Employee Grace Dodger Ron Dollar Alex Garcia Status 47 $16.70 4 49 26.90 M. 43 28.50 1 Red Russell 40 13.70 Required: 2. Compute the regular, overtime, and gross earnings for each employee. Enter the figures in the payroll register. 3. Compute the amount of social security tax to be withheld from each employee's gross earnings. Assume a 6.2 percent social security rate on the first $132,900 earned by the employee during the year. Enter the figures in the payroll register. 4. Compute the amount of Medicare tax to be withheld from each employee's gross earnings. Assume a 1.45 percent Medicare tax rate on all salaries and wages earned by the employee during the year. Enter the figures in the payroll register. 5. Determine the amount of federal income tax to be withheld from each employee's total earnings. Use the…
- Next Question Find the overtime rate, the amount of earnings at regular pay, the amount at overtime pay hours. wages for the employee. Hours in excess of 40 are overtime Name M T w Th F Total Hrs. Reg. Hrs. O.T. Hrs. Bond. R. 7.7 8.9 5.5 4.3 4.5 9.1 ..... Reg. O.T. Gross Earnings Name Rate Rate Regular Overtime Total Bond, R. $7.46 $ I$ What was the overtime rate for Mr. Bond? (Round to the nearest cent.) What was the amount of earnings at Mr. Bond's regular pay? (Round to the nearest cent.) What was the amount of earnings at Mr. Bond's overtime pay? (Round to the nearest cent.)Hours Employee M T W T F S Hourly Rate Federal Income Tax Withholding Health Insurance L. Helton 9 7 8 8 10 2 $12 $33 $12 R. Kenseth 7 8 8 8 8 5 14 36 27 D. Tavaras 9 10 8 9 9 0 15 60 26 Employees are paid 1.50 times the regular hourly rate for all hours worked in excess of 40 hours per week. FICA taxes are 7.65% on the first $132,900 of gross earnings. Bonita Company is subject to 5.40% state unemployment taxes and 0.60% federal unemployment taxes on the first $7,000 of gross earnings. (a) Prepare the payroll register for the weekly payroll. (Round answers to 2 decimal places, e.g. 15.25.) Employee Total Hours L. Helton R. Kenseth D. Tavaras Totals Earnings Regular Overtime Gross Pa $8:48 1 l LTE D Done A v2.cengagenow.com AA C .ALGO Workers' Compensation Insurance and Adjustment .ALGO Specialty Manufacturing estimated that its total payroll .ALGO for the coming year would be $447,500. The workers' „ALGO compensation insurance premium rate is 0.2%. „ALGO Required: ALGO 1. Calculate the estimated workers' compensation insurance premium. Prepare the journal entry for the payment as of January 2, 20--. Page: DOC. POST. NO. REF. DATE ACCOUNT TITLE DEBIT CREDIT 20-- 1 Jan. 2 1 2 2 3 3 2. Assume that Specialty Manufacturing's actual payroll for the year is $452,500.00. Calculate the total insurance premium owed. $1 Prepare a journal entry as of December 31, 20--, to record the adjustment for the underpayment. The actual payment of the additional premium will take place in January of the next year. Page: DOC. POST. DATE ACCOUNT TITLE DEBIT CREDIT NO. REF. 20-- 1 Dec. 31 1 2 3 3 Check My Work Previous 6/6 items pre: 0.0% Save and Exit Submit Assignment for Grading
- *Today's Assignment* Design a salary slip for the month of December 2021 with information given below. Fixed vs variable ratio- 70:30Ctc - 18LBasic- 50%Hra- 20%Da - 12%Travel allowance- 2000Insurance - 2500Incentive- 75% target completionPf 12%Earned leaves - 2LOP - 4 Prepare the assignment in Ms excel/ Ms Word. And submit on whatsApp. Before 4 pm tomorrow. Regardsssment i $1 : aw 11 F1 Day Monday Tuesday Wednesday Thursday Friday Lucas is an hourly worker and earns $17.85 per hour. During a week's pay period, he worked the following hours and minutes: 2 W Multiple Choice о O Using the hundredth-hour method, what is Lucas's gross pay for the week? The employer pays overtime for all time worked in excess of 40 hours per week. (Do not round intermediate calculations. Round final answer to 2 decimal places.) F2 C 24 # Hours Minutes 8 09 7 43 8 36 9 02 8 14 3 $735.12 $745.60 $760.61 E The Morfatt's Fam.... s MyPath - Home Protection Plan 80 F3 $ 4 a F4 R F7 U DII 8 F8 Bread Member Po... My Products- ( I DD 9 F9 W Help 0 F10 0 Save & B 4 P F11 CQ1: According to the December payroll register ABC Co.'s working hours for each cost center are as follows: Working Days 22 days 22 days 22 days 22 days Department Number of Normal Overtime Idle Working Hour Working Hour 1.100 h. Workers Time Knitting (Main Pro. Center) Coloring (Main Pro. Center) Generator(Service Pro. Center) Infirmary (Service Pro. Center) 25 4.400 h. 200 h. 15 2.640 h. 3.300h. 5 880 h. 10 1.760 h. 100 h. ABC Co.'s normal working hours is 8 hours in a day and normal rate is 10 TL/hour. Overtime rate is 12 TL/hour. Employer's Share of Social Security Premium is TL 3.872 TL. The workers were idle due to power failure. Required: Determine the direct and indirect labor cost of each cost center.