Compute the gross earnings for each of the individuals below, rounding each to the nearest cent. Ari Rumi, assistant facility manager for the NHL, earns $750 for a fluctuating workweek. Overtime work is one-half times the regular rate beyond the 40 hours. Ari worked 5 hours overtime. Ari's gross earnings = $ Assume Ari's employer computes pay based on a 40-hour workweek. Ari's gross earnings = $ Juno Noor, a sales representative for the NHL, earns an annual base salary of $75,000. In addition, Juno has a sales quota of $676,000. If the quota exceeded, a 7% commission will be paid. For the current year, sales of $775,000 are reported. Juno's gross earnings = $

Compute the gross earnings for each of the individuals below, rounding each to the nearest cent. Ari Rumi, assistant facility manager for the NHL, earns $750 for a fluctuating workweek. Overtime work is one-half times the regular rate beyond the 40 hours. Ari worked 5 hours overtime. Ari's gross earnings = $ Assume Ari's employer computes pay based on a 40-hour workweek. Ari's gross earnings = $ Juno Noor, a sales representative for the NHL, earns an annual base salary of $75,000. In addition, Juno has a sales quota of $676,000. If the quota exceeded, a 7% commission will be paid. For the current year, sales of $775,000 are reported. Juno's gross earnings = $

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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Dennis Murphy is a salaried, nonexempt administrative assistant for Dionti Investments and is paid semimonthly. He is married filing joint with five dependents under 17. His annual salary is $91,000, and his standard workweek is 37.5 hours. During the pay period, he worked 10 hours overtime. Find the hourly rate, overtime rate, and the number of regular hours and overtime hours.
How would I calculate hourly rate for a non exempt employee with hours past 40? How would I factor in overtime? EX: Cooper worked 88 hours from 10/1 to 10/15 and is paid semi monthly. He earns 62,000 annually.
Reed is a waiter at Albicious Foods in South Carolina. Reed is single with one other dependent and receives the standard tipped hourly wage. During the week ending October 20, 2023, 44 hours were worked, and Reed received $250 in tips. Calculate Reed's gross pay, assuming tips are included in the overtime rate determination. Use Table 3-2. Required: 1. Complete the payroll register for Reed. 2a. Does Albicious Foods need to contribute to Reed'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 Complete the payroll register for Reed. Note: Do not round intermediate calculations. Round your final answers to 2 decimal places. Name Req 2a Reed Totals Albicious Foods Filing Status Req 2b S Dependents 1 Other Hourly Rate or Period Wage Overtime Rate Period Ended: Number of Regular Hours 40.00 10/20/2023 Number of Overtime Hours 4.00 $ Regular Earnings
Nigel is a waiter at Albicious Foods in South Carolina. Nigel is single with one other dependent and receives the standard tipped hourly wage. During the week ending October 22, 2022, 44 hours were worked, and Nigel received $238 in tips. Calculate the gross pay, assuming tips are included in the overtime rate determination. Use Table 3-2. Required: 1. Complete the payroll register for Nigel. 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 Req 2a Req 2b Complete the payroll register for Nigel. Note: Do not round intermediate calculations. Round your final answers to 2 decimal places. Company Albicious Foods Nigel Totals Period Ended: 10/22/2022 Name Filing Status Dependents Hourly Rate or Period Wage Overtime Rate Number of Regular Hours Number of Overtime Hours Regular Earnings Overtime Earnings Tips Gross Earnings S 1 Other $ 2.13…
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Zolnick Enterprises has two hourly employees—Kelly and Jon. Both employees earn overtime at the rate of 1.5 times the hourly rate for hours worked in excess of 40 per week. Assume the Social Security tax rate is 6 percent on the first $110,000 of wages, and the Medicare tax rate is 1.5 percent on all earnings. Federal income tax withheld for Kelly and Jon was $270 and $228, respectively, for the first week of January. The following information is for the first week in January Year 1. Employee Hours Worked Wage Rate per Hour Kelly 54 $ 20 Jon 49 $ 25 Requireda. Calculate the gross pay for each employee for the week.b. Calculate the net pay for each employee for the week.c. Prepare the general journal entry to record payment of the wages.
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Robin Market works for Cycle Industries. Her pay rate is $14.50 per hour and she receives overtime pay at one and one-half times her regular hourly rate for any hours worked beyond 40 in a week. During the pay period that ended December 31, 20X1, Robin worked 42 hours. She is married and claims three withholding allowances on her W-4 form. Robin's cumulative earnings prior to this pay period total $32,000. This week's wages are subject to the following deductions: 1. Social Security tax at 6.2 percent 2. Medicare tax at 1.45 percent 3. Federal income tax (use the withholding table shown in Figure 10.2b) 4. Health and disability insurance premiums, $180 5. Charitable contribution, $25 Required: 1. Compute Robin's regular, overtime, gross, and net pay. 2. Assuming the weekly payroll has been recorded, journalize the payment of her wages for the week ended December 31. Analyze: Based on Robin's cumulative earnings through December 31, how much overtime pay did she earn this year? Complete…
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1. Carla Maloney is a waitress who regularly receives $80 each week in tips and works 40 hours each week.What is the minimum gross weekly pay, excluding tips, that the restaurant could pay Maloney without violating the FLSA?2. Fall is paid a biweekly salary of $937.50. Overtime is paid for hours beyond 40 in each workweek. One week, Fall works 3 hours overtime.What is Fall's pay for this biweekly pay period3. Moe receives 16 cents for every unit produced. Moe produces 2,976 pieces in a 43-hour workweek. For overtime, Moe is paid a sum equal to one-half the regular hourly pay rate multiplied by the number of overtime hours.What is Moe’s total earnings for this workweek?4. Sam Tully works two separate jobs for Mountain Company. During the week, Job A consisted of 38 hours at $20 per hour; Job B involved 15 hours at $14 per hour.What is Sam’s total earnings for this workweek if Mountain Company uses the average rate basis for calculating overtime?5. James receives an annual $25,700 base…
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?
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.