Your monthly salary is $4,160 and your pay period changed to a bi-weekly pay. Youwork 40 hours per week and are paid 1.5 times (one and a half) your hourlywage forovertime.a. Find your new bi-weekly pay.Round to the nearest centb. Calculate your hourly rate of pay for your standard work week andhourly rate.your overtimeStandard hourly rate:Overtime hourly rate:Round to the nearest centc. If you worked 43 hours one week and 47 hours the next week, whatwould your totalpay be in that bi-weekly pay period?Round to the nearestcent

Payroll accounting is the process of accounting through which all transactions related to employees…

Answered: Your monthly salary is $4,160 and your…

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter8: Payroll Accounting: Employee Earnings And Deductions

Section: Chapter Questions

Problem 2SEB

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Cal DiMangino earns 2,875 each month and works 40 hours each week. Compute: a. The hourly rate________ b. The overtime rate at time and one-half_______
COMPUTING OVERTI ME RATE OF PAY AND GROSS WEEKLY PAY Rebecca Huang receives a regular salary of 2,600 a month and is paid 1 times the regular hourly rate for hours worked in excess of 40 per week. (a) Calculate Huangs overtime rate of pay. (b) Calculate Huangs total gross weekly pay if she works 45 hours during the week.
Accounting for bonus and vacation pay Cathy Muench a factory worker, earns 1,000 each week. In addition, she will receive a 4,000 bonus at year-end and a four-week paid vacation. Prepare the entry to record the weekly payroll and the costs and liabilities related to the bonus and the vacation pay, assuming that Muench is the only employee.
Barbara Ripa receives 695 for a regular 40-hour week and time and one-half for overtime. For a workweek of 45 hours, compute: a. The regular earnings________ b. The overtime earnings________ c. The total earnings________
R. Herbert of Crestview Manufacturing Co. is paid at the rate of 20 an hour for an eight-hour day, with time-and-a-half for overtime and double-time for Sundays and holidays. Regular employment is on the basis of 40 hours a week, five days a week. At the end of a week, the labor time record shows the following: Because jobs are randomly scheduled for the overtime period, any overtime premium is charged to Factory Overhead. a. Compute Herberts total earnings for the week. b. Present the journal entry to distribute Herberts total earnings. (Note: These single journal entries here and in E3-2, E3-3, E3-4, E3-8 and E3-9 are for the purpose of illustrating the principle involved. Normally, the entries would be made for the total factory payroll plus the administrative and sales payroll.)
Peggy Nolan earns 20 per hour for up to 300 units of production per day. If she produces more than 300 units per day, she will receive an additional piece rate of .5333 per unit. Assume that her hours worked and pieces finished for the week just ended were as follows: a. Determine Nolans earnings for each day and for the week. (Round piece-rate computations to the nearest whole dollar.) b. Prepare the journal entry to distribute the payroll, assuming that any make-up guarantees are charged to Factory Overhead.
Hasad is paid an annual salary of $64,480 based on a 40-hour workweek. He is paid biweekly. What is his gross pay for a biweekly pay period if he works 43.5 hours in the first week and 47 hours in the second week? Overtime is paid at time and a half. Assume there are exactly 52 weeks in a year. (Do not round intermediate calculations and round your final answer to 2 decimal places.) Gross pay $
Lucille receives an annual salary of $37,500 based on a 37.5-hour workweek. What are her gross earnings for a two-week pay period in which she works 9 hours of overtime at 112112 times her regular rate of pay? (Assume there are exactly 52 weeks in a year. Round your answer to the nearest cent.)
A factory worker earns $500 per week and will receive a $2,000 bonus at year-end, a 2-week paid vacation, and 5 paid holidays. The combined amount of the accruals for bonus, vacation, and holiday pay in the weekly payroll would be:
Emily is paid a semimonthly salary of 900. She works 8.5 hours of overtime in one week. What is her pay for this semimonthly period?
Lucille receives an annual salary of $37,500 based on a 37.5 hour workweek. What are her gross earnings for a 2 week pay period in which she works 9 hours of overtime at 1.5 times her regular rate of pay?
Tom works for Hot Chicken Ltd. He receives an annual salary of $80 000. He is also entitled to four weeks’ annual leave and to a leave loading of 17.5 per cent. Required: What will be the cost of annual leave to his employer? What amount will be kept aside for covering this cost on weekly basis? Provide the weekly journal entry at the end of each week. Provide journal entry if Tom takes three (3) weeks of annual leave.

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