Empl Hrs OT Rate Gross FIT FICA Health Dental Net 0010 40 $14 $560 $56.00 $42.84 $15 $5 0011 40 $16 $832 $83.20 $63.65 $15 $0 1101 $60,000 $1,154 $230.77 $88.27 $200 $12 Calculate the net pay for employee 1101. The overtime rate is time-and-a-half. A. $670.15 B. $622.96 C. $441.16 D. $849.00 - 2022 International Academy of Science. AIl Rights Reserved.

Empl Hrs OT Rate Gross FIT FICA Health Dental Net 0010 40 $14 $560 $56.00 $42.84 $15 $5 0011 40 $16 $832 $83.20 $63.65 $15 $0 1101 $60,000 $1,154 $230.77 $88.27 $200 $12 Calculate the net pay for employee 1101. The overtime rate is time-and-a-half. A. $670.15 B. $622.96 C. $441.16 D. $849.00 - 2022 International Academy of Science. AIl Rights Reserved.

Corporate Financial Accounting

14th Edition

ISBN:9781305653535

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter10: Liabilities: Current, Installment Notes, And Contingencies

Section: Chapter Questions

Problem 10.9EX

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In the equation Y = P4,000 + P3X; Y is the cost of workers' compensation insurance and X is direct labor hours. According to this equation, a 100-hour change in total direct labor hours will change the cost of workers compensation insurance by A. P4,000. B. P 300. C. P4,300. D. none of the above amounts.
JOURNAL Page 43 DATE DESCRIPTION POST. REF. DEBIT CREDIT 20-- Nov. 6 Payroll Cash 12 12,296.97 Cash 11 12,296.97 6 Administrative Salaries 51 2,307.69 Office Salaries 52 4,677.85 Sales Salaries 53 3,600.00 Plant Wages 54 4,898.00 FICA Taxes Payable - OASDI 20.1 959.99 FICA Taxes Payable - HI 20.2 224.53 Employees FIT Payable 24 902.00 Employees SIT Payable 25 475.37 Employees SUTA Payable 25.1 9.27 Employees CIT Payable 26 599.41 Union Dues Payable 28 16.00 Payroll Cash 12 12,296.97 6 Payroll Taxes 56 1,362.30 FICA Taxes Payable - OASDI 20.1 959.98 FICA Taxes Payable - HI 20.2 224.51 SUTA Taxes Payable - Employer 22 177.81 13 Payroll Cash 12 1,570.27 Cash 11 1,570.27 1. What is the total gross…
H9.C2 Paloma Company has four employees. FICA Social Security taxes are 6.2% of the first $137,700 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. Also, for the first $7,000 paid to each employee, the company's FUTA taxes are 0,6% and SUTA taxes are 5.4%. The company Is preparing its payroll calculations for the week ended August 25. Payroll records show the following Information for the company's four employees. Name Dali Trey Kiesha Chee Gross Pay through August 18 Dali: $ 136,600 Trey: 136,800 Kiesha: 6,900 Chee: 1,250 gross Pav Dali: $ 2,000 Trey: 900 Kiesha: 450 Chee: 400 Current Week Income Tax Withholding Dali: $284 Trey: 145 Kiesha: 39 Chee: 30 In addition to gross pay, the company must pay two-thirds of the $60 per employee weekly health insurance; each employee pays the remalning one-third. The company also contributes an extra 8% of each employee's gross pay (at no cost to employees) to a pension fund. Required: places.) Compute the following for the…
Payroll register The following data for Throwback Industries Inc. relate to the payroll for the week ended December 9, 2016: Employee Hours Worked Hourly Rate Weekly Salary Federal Income Tax U.S. Savings Bonds Aaron 46 68.00 750.20 100 Cobb 41 62.00 537.68 110 Clemente 48 70.00 832.64 120 DiMaggio 35 56.00 366.04 0 Griffey, Jr. 45 62.00 641.84 130 Mantle 1,800 342.45 120 Robinson 36 54.00 382.56 130 Williams 2,000 398.24 125 Vaughn 42 62.00 584.72 50 Employees Mantle and Williams are office staff, and all of the other employees are sales personnel. All sales personnel are paid 1 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 employees annual earnings. The next payroll check to be used is No. 901. Instructions 1. Prepare a payroll register for Throwback Industries Inc. for the week ended December 9, 2016. Use the following columns for the payroll register: Employee, Total Hours, Regular Earnings, Overtime Earnings, Total Earnings, Social Security Tax, Medicare Tax, Federal Income Tax, U.S. Savings Bonds, Total Deductions, Net Pay, Ck. No., Sales Salaries Expense, and Office Salaries Expense. 2. Journalize the entry to record the payroll for the week]
EB9. 2.3 The cost data for BC Billing Solutions for the year 2020 is as follows: Month Invoices Processed Overtime Wages January 12000 $7,760 February 8000 $6,800 March 1000 $6,000 April 7000 $6,100 May 5000 $6,200 June 10000 $7,300 July 11000 $7,400 August 9000 $6,900 September 5000 $6,500 October 9000 $6,600 November 8000 $6,800 December 11000 $7,450 A. Using the high-low method, express the company’s overtime wages as an equation where x represents number of invoices processed. Assume BC has monthly fixed costs of $3,800. B. Predict the overtime wages if 9,000 invoices are processed. C. Predict the overtime wages if 6,500 invoices are processed. D. Using Excel, create a scatter graph of the cost data and explain the relationship between the number of invoices processed and…
pvn.4 Need to resolve a payroll Project employee is salary paid biweekly 36900 and only work 32 hrs on pay period how i calculate period wage?
Required information Skip to question [The following information applies to the questions displayed below.] BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $137,700 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to its employee. Gross Pay through August 31 Gross Pay for September a. $ 6,000 $ 1,500 b. 2,000 2,100 c. 132,900 9,500 Compute BMX’s amounts for each of these four taxes as applied to the employee’s gross earnings for September under each of three separate situations (a), (b), and (c). (Round your answers to 2 decimal places.)
Do not copy from bartleby In 20x1, XYZ Company enters into a construction contract with a customer. The contract price is P10,000,000.Information on the contract follows:20X1 20X2 20X3Contract costs incurred during the year P2,645,132 P236,451 P2,657,000Estimated costs to complete 2,697,451 2,116,777 -Progress Billings 5,000,000 3,000,000 2,000,000Collections on progress billings 2,000,000 4,000,000 4,000,000Using the cost-to-cost method, compute the following: Note: Use up to two (2) decimal places in presenting the answer for percentage of completion. Use six (6)decimal places when applying the percentage.7. Realized gross profit in 20x2 _____________8. The balance of "Contract Liability" at the end of 20x2 _____________9. Revenue that should be recognized in 20x3 _____________10. Realized gross profit in 20x3
Required information Skip to question [The following information applies to the questions displayed below.] BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $137,700 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to its employee. Gross Pay through August 31 Gross Pay for September a. $ 6,400 $ 1,700 b. 2,700 2,800 c. 133,300 9,900 Compute BMX’s amounts for each of these four taxes as applied to the employee’s gross earnings for September under each of three separate situations (a), (b), and (c). Note: Round your answers to 2 decimal places.
ajt.4 An employee earns $22 per hour and 2 times that rate for all hours in excess of 40 hours per week. Assume that the employee worked 50 hours during the week. Assume further that the social security tax rate was 6.0%, the Medicare tax rate was 1.5%, and federal income tax to be withheld was $177.10. a. Determine the gross pay for the week. b. Determine the net pay for the week. Round to two decimal places.
A supplier sends a $1,387.55 bill to a contractor. The bill is notated 1% 10/Net30. What will the contractor pay if the bill is paid within 10 days?
Question 2Eng Hardwares has the following balance as at 30 November 2020: Accounts RM'0000 Waged (Debit) 110,000 Insurance (Debit) 2,000 Rental (Debit) 50,000 Additional information:i. Eng Hardwares pays wages to its workers at the end of every month. However, some internal problems arise and it did not pay wages amounting to RM10,000 to its workers on time on the last day of December 2020. It paid RM10,000 for insurance covered from period December 2020 until March 2021 on 3rd December 2020. iii. It rents out part of its warehouse to another business for RM2,000 per month and receives the rent on the last day of each quarter on 31st March, 30th June, 30th September, and 31st December. However, the tenant has some financial difficulties and failed to pay the three-month rent from October 2020 to December 2020 on 31 December, 2020. On 1 December 2020 it received RM21,600 for a one year rental from a new tenant. Required:-I Need the T Account for the item…