Swifty Company has the following data for the weekly payroll ending January 31. Hours Employee M T W T F S Hourly Rate Federal Income Tax Withholding Health Insurance Cumulative Earnings (Jan. 1–24) L. Helton 8 7 8 7 10 2 $12 $33 $10 $1,440 R. Kenseth 7 9 8 7 8 5 14 37 26 1,722 D. Tavaras 10 10 9 8 9 0 15 55 27 1,800 Employees are paid 1½ times the regular hourly rate for all hours worked in excess of 40 hours per week. The 7.65% FICA tax rate consists of the Social Security tax rate of 6.2% on salaries and wages up to $128,400 and the Medicare tax rate of 1.45% on all salaries and wages. (a) Prepare the payroll register for the weekly payroll. (Round answers to 2 decimal places, e.g. 15.25.) SWIFTY COMPANY Payroll Register For the Week Ending January 31 Earnings Taxable Earnings Deductions Employee Total Hours Regular Overtime Gross Pay Cumulative Earnings Social Security Medicare FICA Taxes Federal Income Taxes Health Insurance Total Net Pay L. Helton $ $ $ $ $ $ $ $ $ $ $ R. Kenseth D. Tavaras Totals $
Swifty Company has the following data for the weekly payroll ending January 31. Hours Employee M T W T F S Hourly Rate Federal Income Tax Withholding Health Insurance Cumulative Earnings (Jan. 1–24) L. Helton 8 7 8 7 10 2 $12 $33 $10 $1,440 R. Kenseth 7 9 8 7 8 5 14 37 26 1,722 D. Tavaras 10 10 9 8 9 0 15 55 27 1,800 Employees are paid 1½ times the regular hourly rate for all hours worked in excess of 40 hours per week. The 7.65% FICA tax rate consists of the Social Security tax rate of 6.2% on salaries and wages up to $128,400 and the Medicare tax rate of 1.45% on all salaries and wages. (a) Prepare the payroll register for the weekly payroll. (Round answers to 2 decimal places, e.g. 15.25.) SWIFTY COMPANY Payroll Register For the Week Ending January 31 Earnings Taxable Earnings Deductions Employee Total Hours Regular Overtime Gross Pay Cumulative Earnings Social Security Medicare FICA Taxes Federal Income Taxes Health Insurance Total Net Pay L. Helton $ $ $ $ $ $ $ $ $ $ $ R. Kenseth D. Tavaras Totals $
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 2PB
Related questions
Question
Swifty Company has the following data for the weekly payroll ending January 31.
Employees are paid 1½ times the regular hourly rate for all hours worked in excess of 40 hours per week. The 7.65% FICA tax rate consists of the Social Security tax rate of 6.2% on salaries and wages up to $128,400 and the Medicare tax rate of 1.45% on all salaries and wages.
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Hours
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Employee
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M
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T
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W
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T
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F
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S
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Hourly Rate
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Federal Income Tax Withholding
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Health Insurance
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Cumulative Earnings (Jan. 1–24)
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| L. Helton | 8 | 7 | 8 | 7 | 10 | 2 | $12 | $33 | $10 | $1,440 | |||||||||||
| R. Kenseth | 7 | 9 | 8 | 7 | 8 | 5 | 14 | 37 | 26 | 1,722 | |||||||||||
| D. Tavaras | 10 | 10 | 9 | 8 | 9 | 0 | 15 | 55 | 27 | 1,800 |
Employees are paid 1½ times the regular hourly rate for all hours worked in excess of 40 hours per week. The 7.65% FICA tax rate consists of the Social Security tax rate of 6.2% on salaries and wages up to $128,400 and the Medicare tax rate of 1.45% on all salaries and wages.
(a)
Prepare the payroll register for the weekly payroll. (Round answers to 2 decimal places, e.g. 15.25.)
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SWIFTY COMPANY
Payroll Register For the Week Ending January 31 |
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Earnings
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Taxable Earnings
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Deductions
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Employee
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Total Hours
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Regular
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Overtime
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Gross Pay
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Cumulative Earnings
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Social Security
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Medicare
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FICA Taxes
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Federal Income Taxes
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Health Insurance
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Total
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Net Pay
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| L. Helton |
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$
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$
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$
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$
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$
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$
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$
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$
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$
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$
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$
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| R. Kenseth |
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| D. Tavaras |
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Totals
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$
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