Bobby Howard is a salaried exempt employee at Coric Industries. He is married filing jointly with two dependents under 17. His contra stipulates a 40-hour workweek at $50,000 per year. During the week ending November 27, there was a company-paid holiday for on day. Required: Calculate Bobby's weekly pay. (Do not round intermediate calculations. Round "Hourly Rate" to 5 decimal places and all other answers to 2 decimal places.) Company Name: Bobby Howard Coric Industries Filing Status Dependents Period Ended: Hourly Rate or Period Wage Number of Regular Hours 11/27/20XX Number of Holiday Hours Regular Earnings Holiday Earnings Gross Earning

Bobby Howard is a salaried exempt employee at Coric Industries. He is married filing jointly with two dependents under 17. His contra stipulates a 40-hour workweek at $50,000 per year. During the week ending November 27, there was a company-paid holiday for on day. Required: Calculate Bobby's weekly pay. (Do not round intermediate calculations. Round "Hourly Rate" to 5 decimal places and all other answers to 2 decimal places.) Company Name: Bobby Howard Coric Industries Filing Status Dependents Period Ended: Hourly Rate or Period Wage Number of Regular Hours 11/27/20XX Number of Holiday Hours Regular Earnings Holiday Earnings Gross Earning

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter3: Accounting For Labor

Section: Chapter Questions

Problem 14E: Accounting for bonus and vacation pay Cathy Muench a factory worker, earns 1,000 each week. In...

See similar textbooks

Similar questions

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.
_____1. Employees FICA tax rates A. Severance pay _____2. Form SS-4 B. By the 15th day of the following month _____3. Semiweekly depositor C. Employers Quarterly Federal Tax Return _____4. Taxable for FICA D. Application for Employer Identification Number _____5. Nontaxable for FICA E. 6.2 percent and 1.45 percent _____6. Self-employeds FICA tax rates F. Employees application for social security card _____7. Form 941 G. Cumulative wages of 128,400 _____8. Monthly depositor H. More than 50,000 in employment taxes in the lookback period _____9. OASDI taxable wage base I. 12.4 percent and 2.9 percent _____10. Form SS-5 J. Employers matching contributions into employees deferred compensation arrangements
Jody Baush is a salaried employee who normally works a 35-hour week and is paid a weekly salary of 735.00. The agreement that he has with his employer states that his salary is to cover all hours worked up to and including 40. This week, Baush worked 42 hours. Calculate his gross pay. Gross pay_________
Click the Chart sheet tab. On the screen is a chart of the four payroll taxes that a company might incur in total during the year. The four taxes are federal unemployment, state unemployment, Social Security, and Medicare. By the behaviors shown on the chart, identify below which of the four taxes each represents. Series 1 _____ Series 2 _____ Series 3 _____ Series 4 _____ When the assignment is complete, close the file without saving it again. TICKLERS (optional) Worksheet. A new employee was hired during November and was mistakenly omitted from the payroll register. The employees last name is Zuckerman, and his gross pay for November is 1,300. Add the new employee to the PR5 worksheet and include all standard withholding rates in computing net pay. Federal income tax withheld is 101. He is a union member. Preview the printout to make sure that the worksheet will print neatly on one page, and then print the worksheet. Save the completed file as PRT. Chart. Using the PR4 file, prepare a 3-D pie chart to show the percentage of an employees gross pay that is withheld for taxes, Social Security, and so on, and how much is left over as net pay. Use Smith as your example. Complete the Chart Tickler Data Table and use it as a basis for preparing the chart. Enter your name somewhere on the chart. Save the file again as PR4. Print the chart.