Parker is a salaried, nonexempt administrator for Forise Industries and is paid biweekly. The annual salary is $66,600 with a standard workweek of 40 hours. During the pay period ending February 3, 2023, Parker worked 8 hours of overtime. Parker is married filing Jointly with two dependents under the age of 17. Required: Complete the following payroll register for Parker's pay. Note: Round your intermediate calculations and final answers to 2 decimal places. Company Forise Industries Period Ended: 2/3/2023 Name Filing Status Period Salary Hourly Rate Dependents Number of Regular Hours Number of Overtime Hours Regular Earnings Overtime Earnings Gross Earnings Parker Total $ 0.00 $ 0.00 $ 0.00

Parker is a salaried, nonexempt administrator for Forise Industries and is paid biweekly. The annual salary is $66,600 with a standard workweek of 40 hours. During the pay period ending February 3, 2023, Parker worked 8 hours of overtime. Parker is married filing Jointly with two dependents under the age of 17. Required: Complete the following payroll register for Parker's pay. Note: Round your intermediate calculations and final answers to 2 decimal places. Company Forise Industries Period Ended: 2/3/2023 Name Filing Status Period Salary Hourly Rate Dependents Number of Regular Hours Number of Overtime Hours Regular Earnings Overtime Earnings Gross Earnings Parker Total $ 0.00 $ 0.00 $ 0.00

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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Bobby Howard is a salaried exempt employee at Coric Industries. He is married filing jointly with two dependents under 17. His contract stipulates a 40-hour workweek at $68,000 per year. During the week ending November 27, there was a company-paid holiday for one 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.)
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Sean Matthews is a waiter at the Duluxe Lounge. In his first weekly pay in March, he earned $300.00 for the 40 hours he worked. In addition, he reports his tips for February to his employer ($500.00), and the employer withholds the appropriate taxes for the tips from this first pay in March. 2021 Wage-Bracket Method Tables. Round your answer to the two decimal places. Calculate his net take-home pay assuming the employer withheld federal income tax (wage-bracket, married, 2 allowances), social security taxes, and state income tax (2%).
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