Part 2 (Algo)February 24, 2023, is the end of the final pay period for the month and is a full biweekly payroll. Schwartz has sold $9,000 of productsduring this pay period at a 3 percent commission.The hours for the nonexempt employees are as follows:Hourly rate$ 15.00000Hours worked2/11-2/2483 hoursNameTowleLong$ 15.0000080 hoursShangraw$ 16.0000042 hoursSuccess (You)$ 17.7884681 hoursRequired:Complete the payroll register for the period's gross pay. Pay will be disbursed on February 28, 2023, and check numbers will continuefrom the prior payroll.Note: Round your answers for "Hourly Rate or Period Wage" to 5 decimal places and all other answers to 2 decimal places. Hoursand dependents should be entered as whole numbers.

Step 1: Step 2: Step 3: Step 4:

Answered: Part 2 (Algo) February 24, 2023, is 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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Empty fields company pays its salaried employees monthly on the last day of each month The annual salary payroll for 20-Follows. Compute the following for the payroll of December 31: Employer's OASDI Tax $____________ Employer's HI Tax $_____________
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Calculate Payroll Breakin Away Company has three employees-a consultant, a computer programmer, and an administrator. The following payroll information is available for each employee: Consultant Computer Programmer Administrator Regular earnings rate $3,210 per week $32 per hour $42 per hour Overtime earnings rate Not applicable 1.5 times hourly rate 2 times hourly rate Number of withholding allowances 3 2 1 For the current pay period, the computer programmer worked 60 hours and the administrator worked 50 hours. The federal income tax withheld for all three employees, who are single, can be determined by adding $356.90 to 28% of the difference between the employee's amount subject to withholding and $1,796.00. Assume further that the social security tax rate was 6%, the Medicare tax rate was 1.5%, and one withholding allowance is $70. Determine the gross pay and the net pay for each of the three employees for the current pay period. Assume the normal…
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