The following data for Throwback Industries Inc. relate to the payroll for the week ended December 9, 20Y8: Hours Hourly Weekly Federal Retirements Employee Worked Rate Salary Income Tax Savings Aaron 43 $44 $450.34 $70 Cobb 48 38 424.84 35 Clemente 45 46 415.15 100 DiMaggio 36 32 241.92 85 Griffey, Jr. 41 40 348.60 105 Mantle $2,350 564.00 70 Robinson 38 28 159.60 95 Williams 2,630 578.60 55 Vaughn 44 36 331.20 85 Employees Mantle and Williams are office staff, and all of the other employees are sales personnel. All sales personnel are paid 1½ times the regular rate for all hours in excess of 40 hours per week. The social security tax rate is 6%, and Medicare tax is 1.5% of each employee's annual earnings. The next payroll check to be used is No. 901. Required: 1. Prepare a payroll register for Throwback Industries Inc. for the week ended December 9, 20Y8. Assume the normal working hours in a week are 40 hours. Enter amounts as positive numbers. Round your intermediate calculations and final answers to the nearest whole cent (two decimal places).
The following data for Throwback Industries Inc. relate to the payroll for the week ended December 9, 20Y8: Hours Hourly Weekly Federal Retirements Employee Worked Rate Salary Income Tax Savings Aaron 43 $44 $450.34 $70 Cobb 48 38 424.84 35 Clemente 45 46 415.15 100 DiMaggio 36 32 241.92 85 Griffey, Jr. 41 40 348.60 105 Mantle $2,350 564.00 70 Robinson 38 28 159.60 95 Williams 2,630 578.60 55 Vaughn 44 36 331.20 85 Employees Mantle and Williams are office staff, and all of the other employees are sales personnel. All sales personnel are paid 1½ times the regular rate for all hours in excess of 40 hours per week. The social security tax rate is 6%, and Medicare tax is 1.5% of each employee's annual earnings. The next payroll check to be used is No. 901. Required: 1. Prepare a payroll register for Throwback Industries Inc. for the week ended December 9, 20Y8. Assume the normal working hours in a week are 40 hours. Enter amounts as positive numbers. Round your intermediate calculations and final answers to the nearest whole cent (two decimal places).
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter11: Current Liabilities And Payroll
Section: Chapter Questions
Problem 4PA
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Question
The following data for Throwback Industries Inc. relate to the payroll for the week ended December 9, 20Y8:
| Hours | Hourly | Weekly | Federal | Retirements | ||||||
| Employee | Worked | Rate | Salary | Income Tax | Savings | |||||
| Aaron | 43 | $44 | $450.34 | $70 | ||||||
| Cobb | 48 | 38 | 424.84 | 35 | ||||||
| Clemente | 45 | 46 | 415.15 | 100 | ||||||
| DiMaggio | 36 | 32 | 241.92 | 85 | ||||||
| Griffey, Jr. | 41 | 40 | 348.60 | 105 | ||||||
| Mantle | $2,350 | 564.00 | 70 | |||||||
| Robinson | 38 | 28 | 159.60 | 95 | ||||||
| Williams | 2,630 | 578.60 | 55 | |||||||
| Vaughn | 44 | 36 | 331.20 | 85 |
Employees Mantle and Williams are office staff, and all of the other employees are sales personnel. All sales personnel are paid 1½ times the regular rate for all hours in excess of 40 hours per week. The social security tax rate is 6%, and Medicare tax is 1.5% of each employee's annual earnings. The next payroll check to be used is No. 901.
Required:
1. Prepare a payroll register for Throwback Industries Inc. for the week ended December 9, 20Y8. Assume the normal working hours in a week are 40 hours. Enter amounts as positive numbers. Round your intermediate calculations and final answers to the nearest whole cent (two decimal places).
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