Total Gross pay
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Homework Answers
Gross pay includes incentives paid to Employees.Incentives are given if required results are acheived .In the above case,both the requirements were acheived.Therefore,incentive is given to Michael.
Michael total gross pay for the month of June=monthly basic salary + 10% incentive on basic monthly salary
= 3500 + 350
= $ 3850
working note:
10% of 3500=350
the total of the gross earnings column of the payroll register for a given pay period...
the total of the gross earnings column of the payroll register for a given pay period will appear in which account for the payroll related general journal entry? A. salaries and wages payable B. Cash C. Expenses D. salaries and wages expense
1. compute and record the employee’s SUTA contributions (employees pay 0.06% on total gross pay 2....
1.
compute and record the employee’s SUTA contributions (employees pay
0.06% on total gross pay
2. Net FUTA tax : since this is the first pay period of tje
uear none of the employees are near the $7000 ceiling; therefore
each employess gress earnings us subject to the FUTA tax (the
employer rate is 0.6%).
3. SUTA tax: Since Kipley Company is new employer, Pennsylvia
has assigned the company contribution rate 3.689% on the first
$10,000 of each employee’s earnings....
PSa 2-11 Calculate Gross Pay for a Piecework Employee Calculate gross pay for each of the...
PSa 2-11 Calculate Gross Pay for a Piecework Employee Calculate gross pay for each of the following employees. All are paid an overtime wage rate that is 1.5 times their respective regular wage rates. NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation. 1: Walter Pinkman assembles merchandise and is paid $0.11 for each unit assembled. During the most recent week, he worked 46 hours and assembled...
PSa 2-10 Calculate Gross Pay for a Tipped Employee Calculate gross pay for each of the...
PSa 2-10 Calculate Gross Pay for a Tipped Employee Calculate gross pay for each of the following employees. All are paid an overtime wage rate that is 1.5 times their respective regular wage rates. NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation. 1: Anita Workman receives tips from customers as a standard component of her weekly pay. She is paid $2.50/hour by her employer and receives...
Berkley's gross pay for this month is $8,750. His gross pay year-to-date, prior to this month...
Berkley's gross pay for this month is $8,750. His gross pay year-to-date, prior to this month totaled $112,000. Berkley's rate for federal income tax is 20%. His voluntary deductions total $950. What is Berkley's net pay? (Assume an OASDI rate of 6.2%, applicable on the first $117,000 earnings, and a Medicare rate of 1.45%, applicable on all earnings.) $6,553.92 $6050.00 $7,000.00 $5,613.12
PSa 2-9 Calculate Gross Pay Based on an Incentive Plan Calculate gross pay for each of...
PSa 2-9 Calculate Gross Pay Based on an Incentive Plan Calculate gross pay for each of the following employees of Launchpad Co. The company offers a regular wage rate of $8.20/hour to all employees. Under an incentive plan in place for all employees, this rate increases for any employee who can meet weekly production goals. The increased rates and corresponding thresholds that must be met are as follows: $9.40/hour for producing at least 2,000 units $10.60/hour for producing at least...
PSa 2-7 Calculate Gross Pay with Commissions Calculate gross pay for each of the following employees....
PSa 2-7 Calculate Gross Pay with Commissions Calculate gross pay for each of the following employees. All are paid an overtime wage rate that is 1.5 times their respective regular wage rates. NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation. 1: Samuel Worthy earns both $7.25/hour and a 10% commission on all sales. During the most recent week, he worked 42 hours and made total sales...
Calculate Gross Pay for a Tipped Employee
Calista Flood recieves tips from customers as a standard component of her weekly pay. She was paid 4.10/hour by her employer and recieved $350 in tips during the most recent 38-hour workweek. Calculate gross pay.
Open the Gross Pay Solution.sln file contained in the VB2017\Chap08\Gross Pay Solution folder. The interface provides...
Open the Gross Pay
Solution.sln file contained in the VB2017\Chap08\Gross Pay Solution
folder. The interface provides a text box for entering the number
of hours an employee worked. It also provides a list box for
selecting the employee’s pay code. The btnCalc_Click procedure
should display the gross pay, using the number of hours worked and
the pay rate corresponding to the selected code. The pay codes and
rates are listed in Figure 8-47. Employees working more than 40
hours receive...
Taurus's gross pay for the week is $980. His yearly pay is under the limit for...
Taurus's gross pay for the week is $980. His yearly pay is under the limit for OASDI. Assume that the rate for state and federal unemployment compensation taxes is 6.2%, and that Taurus's pay year-to-date has not yet exceeded the $7,000 cap. His yearly pay is under the limit for OASDI. How much is the total amount of payroll taxes that his employer must record as payroll tax expenses? (Do not round your intermediate calculations. Assume a FICA-OASDI Tax of...
1.
compute and record the employee’s SUTA contributions (employees pay
0.06% on total gross pay
2. Net FUTA tax : since this is the first pay period of tje
uear none of the employees are near the $7000 ceiling; therefore
each employess gress earnings us subject to the FUTA tax (the
employer rate is 0.6%).
3. SUTA tax: Since Kipley Company is new employer, Pennsylvia
has assigned the company contribution rate 3.689% on the first
$10,000 of each employee’s earnings....
Open the Gross Pay
Solution.sln file contained in the VB2017\Chap08\Gross Pay Solution
folder. The interface provides a text box for entering the number
of hours an employee worked. It also provides a list box for
selecting the employee’s pay code. The btnCalc_Click procedure
should display the gross pay, using the number of hours worked and
the pay rate corresponding to the selected code. The pay codes and
rates are listed in Figure 8-47. Employees working more than 40
hours receive...
Taurus's gross pay for the week is $980. His yearly pay is under the limit for OASDI. Assume that the rate for state and federal unemployment compensation taxes is 6.2%, and that Taurus's pay year-to-date has not yet exceeded the $7,000 cap. His yearly pay is under the limit for OASDI. How much is the total amount of payroll taxes that his employer must record as payroll tax expenses? (Do not round your intermediate calculations. Assume a FICA-OASDI Tax of...
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