IMG-20240104-WA0065

Payday October 23—For Period Ending October 17, 20--.” On the following lines, record the payroll information for the last pay date of October. When recording succeeding payrolls, continue to conserve space by recording two payrolls on each separate payroll register sheet. Project Audit Test ✔ Net Paid $12,571.22 The workers in the plant (Bonno and Ryan) are paid time and a half for any hours worked over eight each workday and for work on Saturdays and are paid twice the regular hourly rate for work on Sundays or holidays. Pay Points Even though they are not on the time clerk’s report, remember to pay the president, sales manager, sales representatives, and supervisors. With this pay period, the cumulative earnings of several employees exceed the taxable income base set up by FUTA and SUTA. This factor must be considered in preparing the payroll register and in computing the employer’s payroll taxes. Refer to each employee’s earnings record to see the amount of cumulative…

McLoyd Company completed the salaries and wages payroll for March. The payroll provided the following details:      Salaries and wages earned $ 570,000   Employee income taxes withheld   52,725   FICA taxes withheld   40,755   Unemployment taxes   3,965         Required: 1. Considering both employee and employer payroll taxes, use the preceding information to calculate the total labor cost for the company for March. 2, & 3. Prepare the journal entry to record the payroll for March, including employee deductions (but excluding employer payroll taxes) and record employer’s FICA taxes and unemployment taxes. Employees were paid in March but amounts withheld were not yet remitted.

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The following data for Throwback Industries Employee Hours Worked Hourly Rate Aaron 46 $68.00 $750 20 Cobb 41 Clemente 48 DiMaggio 35 Griffey, Jr.. 45 Mantle 62.00 70.00 56.00 62.00 $1,800 Robinson 36 54.00 Williams 2,000 Vaughn 42 62.00 537.68 832.64 366.04 Inc. relate to the payroll for the week ended December 9, Weekly Salary Federal Income Tax U.S. Savings Bonds $100 110 120 0 641.84 130 342.45 382.56 398 24 584.72 120 130 125 50 Employees Mantle and Williams are office staff, and all of the other employees are sales personnel All sales personnel are paid 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 employee's annual earnings. The next payroll check to be used is No. 901. Instructions 1. Prepare a payroll summary for Throwback Industries Inc. for the week ended December 9. Round all calculations to the nearest cent. Use the following columns: Employee, Total Hours, Regular Earnings,…

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