PSb 2-10 Calculate Gross Pay for a Tipped EmployeeCalculate 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: Stanley Smothers receives tips from customers as a standard component of his weekly pay. He is paid $5.10/hour by his employer and receives $305 in tips during themost recent 41-hour workweek.Gross Pay = $2: Arnold Weiner receives tips from customers as a standard component of his weekly pay. He is paid $4.40/hour by his employer and receives $188 in tips during the mostrecent 47-hour workweek.Gross Pay = $3: Katherine Shaw receives tips from customers as a standard component of her weekly pay. She is paid $2.20/hour by her employer and receives $553 in tips during themost recent 56-hour workweek.Gross Pay = $4: Tracey Houseman receives tips from customers as a standard component of her weekly pay. She is paid $3.90/hour by her employer and receives $472 in tips during themost recent 45-hour workweek.Gross Pay = $

Gross Pay: Total earnings before deductions are referred to as gross pay. Calculating gross pay does…

Answered: Calculate gross pay for each of the…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Janel is a nurse at Central City Hospital and is paid $31.75 per hour for a 40-hour standard workweek. During the biweekly pay period from January 10–21, Janel worked a total of 85 hours. Required:What is Janel's gross pay?Note: Round your intermediate calculations and final answer to 2 decimal places.
K. Mello Company has three employees-a consultant, a computer programmer, and an administrator. The following payroll information is available for each employee: Line Item Description Consultant Computer Programmer Administrator Regular earnings rate $3,310 per week $28 per hour $50 per hour Overtime earnings rate Not applicable 2 times hourly rate 1.5 times hourly rate Federal income tax withheld $920 $250 $500 For hourly employees, overtime is paid for hours worked in excess of 40 hours per week. For the current pay period, the computer programmer worked 53 hours and the administrator worked 61 hours. Assume that the social security tax rate was 6.0%, and the Medicare tax rate was 1.5%. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet Determine the gross pay and the net pay for each of the three employees for the current…
Stephanie Parker is a salaried, nonexempt administrator for Forise Industries and is paid biweekly. Her annual salary is $39,000, and her standard workweek is 45 hours. During the pay period ending February 3, 20XX, she worked 8 hours overtime. She is single with two withholding allowances. Required: Complete the following payroll register for Stephanie's pay. (Do not round intermediate calculations. Round your final answers to 2 decimal places.) Company Name Stephanie Parker Forise Industries M/S # of W/H Annual Salary Hourly Rate Overtime Rate No. of Regular Hours Period Ended: No. of Overtime Regular Hours Earnings 2/3/20XX Overtime Earnings Gross Earnings
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. 1.Samuel Worthy earns both $8.10/hour and a 14% commission on all sales. During the most recent week, he worked 41 hours and made total sales of $12,000.NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation.
Make an Excel spreadsheet to compute gross wages due each employee under federal wage-hour law. See notes below. a. Ryan is normally paid $1,000 for a 40-hour workweek. One week, he works 46 hours. b. Latisha is normally paid $1,200 for a 40-hour workweek. One Monday she is out sick but receives 8 hours sick pay. She then works 40 hours Tuesday–Friday. c. Al is normally paid $500 for a 40-hour workweek. One week, he works 45 hours. d. Lee is normally paid $1,500 for a 40-hour workweek. To make up for leaving early one Friday, he works 44 hours this week. THANK YOU FOR YOUR HELP.
Nigel McCloskey is a waiter at Albicious Foods in South Carolina. He is single with one withholding allowance. He receives the standard tipped hourly wage. During the week ending October 22, 20XX, he worked 44 hours and received $186 in tips. Calculate his gross pay, assuming his tips are included in the overtime rate determination. Use Table 3-1. Required: 1. Complete the payroll register for Nigel McCloskey. 2a. Does Albicious Foods need to contribute to Nigel's wages to meet FLSA requirements? 2b. If so, how much should be contributed? Complete this question by entering your answers in the tabs below. Req 1 Company Req 2a Complete the payroll register for Nigel McCloskey. (Do not round intermediate calculations. Round your final answers to 2 decimal places.) Name Nigel McCloskey Req 2b Albicious Foods M/S S # of W/H 1 Regular Hourly Rate $ Period Ended: Overtime Rate 2.13 $ 3.19 No. of Regular Hours 40.00 Tips 85.20 $ 186.00 Overtime Earnings 12.78 Gross Earnings $ 283.98
Flower's employer pays time-and-a-half for all hours worked in excess of 8 hours per dayand double time for all hours worked on Sundays. Flower's regular hourly rate is $12 per hour.During the week, Flower worked the following hours: Monday, 8; Tuesday, 9; Wednesday, 9;Thursday, 10; Friday, 10; Sunday, 7. Calculate the total gross wages.a) $480.00.b) $534.00.c) $648.00.d) $702.00.e) $642.00.
Winter submitted a pay card reflecting the following hours worked at Kicy, Incorporated. Winter earns $14.15 per hour. The company pays overtime only on hours worked exceeding 40 per week. The company is considering changing from quarter-hour to hundredth- hour time collection. Under the current quarter-hour system, each time the employee clocks in or out, the time is rounded to the nearest quarter-hour. Required: 1. Calculate Winter's time for both the quarter-hour and hundredth-hour systems. 2. Calculate Winter's total pay in the hundredth-hour and quarter-hour systems. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate Winter's time for both the quarter-hour and hundredth-hour systems. Note: Round your intermediate calculations and final answers to 2 decimal places. In 7:30 9:25 7:10 6:02 Out 11:20 12:28 11:43 11:05 In 12:17 1:40 12:26 12:06 Out 5:18 6:12 5:35 6:04 Total Hours with Total Hours with Hundredth-hour Quarter-hour
Swifty Hardware has four employees who are paid on an hourly basis plus time-and-a-half for all hours worked in excess of 40 a week. Payroll data for the week ended March 15, 2022, are presented below. Employee Hours Worked Hourly Rate Federal Income Tax Withholdings United Fund Ben Abel 40 $14.00 $59.00 $5.00 Rita Hager 41 16.00 64.00 5.00 Jack Never 44 13.00 60.00 8.00 Sue Perez 46 13.00 62.00 5.00 Abel and Hager are married. They claim 0 and 4 withholding allowances, respectively. The following tax rates are applicable: FICA 7.65%, state income taxes 3%, state unemployment taxes 5.4%, and federal unemployment 0.6%. 1. Prepare a payroll register for the weekly payroll. No employee has reached the Social Security limit of $132,900 or the FUTA/SUTA limit of $7,000 2. Journalize the payroll on March 15, 2022, and the accrual of employer payroll taxes. 3. Journalize the payment of the payroll on March 16,…
Audrey Martin and Beth James are partners in the Country Gift Shop, which employs the individuals listed below. Paychecks are distributed every Friday to all employees. Based on the information given, compute the amounts listed below for a weekly payroll period. Name and Position Zena Vertin, Office Nicole Norge, Sales Bob Mert, Delivery Audrey Martin, Partner Beth James, Partner Employer's QASDI Tax Employer's Hi Tax S Salary $ 700 per week 2,980 per month 650 per week 950 per week 950 per week Totals 5 OASDI Taxable Earnings OASDI Tax HI Taxable Earnings HI Tax
At Vision Club Company, office workers are employed for a 40-hour workweek on either an annual or a monthlysalary basis.Given on the form below are the current annual and monthly salary rates for five office workers for the weekended December 13, 2019 (50th payday of the year). In addition, with this pay, these employees are paid their slidingscale annual bonuses. The bonuses are listed on the register.For each worker, compute:1. Regular earnings for the weekly payroll ended December 13, 2019.2. Overtime earnings (if applicable).3. Total regular, overtime earnings, and bonus.4. FICA taxable wages for this pay period.5. FICA taxes to be withheld for this pay period.

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