Hsl Peta is married, filing joint with two other dependents, is paid $17.25 per hour, and receives commission on sales. No commission ispaid out until sales exceed $60,000. Once the minimum sales have been reached, the 7 percent commission on sales applies. For theweek ending June 10, there was 48 hours worked and $75,000 of medicinal supplies sold.Required:Compute Peta's gross pay for the week.Note: Round your answers to 2 decimal places.Peta* Answer is complete but not entirely correct.Period Ended:06/10/xxxxNameFiling StatusDependentsHourly Rate orPeriod WageNumber ofRegular HoursNumber ofOvertimeRegularEarningsCommissionsHoursOvertimeEarningsGrossEarningsMJ2 Other17.2540.008.00$Totals$690.00 $690.00 $ 1,050.001,050.00$207.04$ 1,947.04$207.04$ 1,947.04

Step-by-Step Calculation:Regular earnings:Regular earnings=40×17.25=690.00Overtime earnings:…

Answered: Peta is married, filing joint with two…

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter7: Employee Earnings And Deductions

Section: Chapter Questions

Problem 1PB

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Dixon Sales has five sales employees that receive weekly paychecks. Each earns $10 per hour and each has worked 40 hours in the pay period. Each employee pays 12% of gross in federal income tax, 3% of gross in state income tax, 6% of gross in social security tax, 1.5% of gross in Medicare tax, and 0.5% of gross in state disability insurance. Required: Journalize the recognition of the pay period ending January 19 which will be paid to the employees January 26. Refer to the Chart of Accounts for exact wording of account titles. Round your answers to two decimal places. CHART OF ACCOUNTS Dixon Sales General Ledger ASSETS 110 Cash 111 Accounts Receivable 112 Interest Receivable 113 Notes Receivable 115 Inventory 116 Supplies 118 Prepaid Insurance 120 Land 123 Building 124 Accumulated Depreciation-Building 125 Office Equipment 126 Accumulated Depreciation-Office Equipment LIABILITIES 210 Accounts Payable 213…
Sadie White receives an hourly rate of $35, with time and a half for all hours worked in excess of 40 during a week. Payroll data for the current week are as follows: hours worked, 44; federal income tax withheld, $317; social security tax rate, 6.0%; and Medicare tax rate, 1.5%. What is the net amount to be paid to White? If required, round your answers to the nearest cent. a.$1,102.25 b.$1,223.00 c.$1,610.00 d.$1,172.25
Dixon sales has five sales employees that receive weekly paychecks. Each earns $12 per hour and each has worked 40 hours in the pay period. Each employee pays 12% of gross in federal income tax, 3% of gross in state income tax, 6% of gross in social security tax, 1.5% of gross in Medicare tax, and 0.5% of gross in state disability insurance. Journalize the recognition of the pay period ending January 19 which will be paid to the employees January 26.
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Required information [The following information applies to the questions displayed below.] The following information is available for the employees of Webber Packing Company for the first week of January Year 1: 1. Kayla earns $25 per hour and 1/2 times her regular rate for hours over 40 per week. Kayla worked 46 hours the first week in January. Kayla's federal income tax withholding is equal to 10 percent of her gross pay. Webber pays medical insurance of $80 per week for Kayla and contributes $59 per week to a retirement plan for her. 2. Paula earns a weekly salary of $1,350. Paula's federal income tax withholding is 17 percent of her gross pay. Webber pays medical insurance of $115 per week for Paula and contributes $120 per week to a retirement plan for her. 3. Vacation pay is accrued at the rate of 2 hours per week (based on the regular pay rate) for Kayla and $80 per week for Paula. Assume the Social Security tax rate is 6.0 percent on the first $110,000 of salaries and the…
Marc & Associates employs Janet Evanovich at its law firm and June is the first pay period for Janet. Her gross income for June is $7,500. FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to the employee. Payroll for the month of June follows: FICA Social Security tax rate at 6.2%, FICA Medicare tax rate at 1.45%, federal income tax of $650, state income tax of $60, local income tax of $30, health-care insurance premium of $300, pension plan contribution of $200, and donations to a charity of $50. The employee is responsible for covering 40% of her health insurance premium. The employer is responsible for 60% of the health insurance premium. The employer matches 50% of employee pension plan contributions.
Marc & Associates employs Janet Evanovich at its law firm and June is the first pay period for Janet. Her gross income for June is $7,500. FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to the employee. Payroll for the month of June follows: FICA Social Security tax rate at 6.2%, FICA Medicare tax rate at 1.45%, federal income tax of $650, state income tax of $60, local income tax of $30, health-care insurance premium of $300, pension plan contribution of $200, and donations to a charity of $50. The employee is responsible for covering 40% of her health insurance premium. The employer is responsible for 60% of the health insurance premium. The employer matches 50% of employee pension plan contributions.
Required information [The following information applies to the questions displayed below.] The following information is available for the employees of Webber Packing Company for the first week of January Year 1: 1. Kayla earns $27 per hour and 1½ times her regular rate for hours over 40 per week. Kayla worked 45 hours the first week in January. Kayla's federal income tax withholding is equal to 9 percent of her gross pay. Webber pays medical insurance of $75 per week for Kayla and contributes $55 per week to a retirement plan for her. 2. Paula earns a weekly salary of $1,400. Paula's federal income tax withholding is 19 percent of her gross pay. Webber pays medical insurance of $105 per week for Paula and contributes $120 per week to a retirement plan for her. 3. Vacation pay is accrued at the rate of 2 hours per week (based on the regular pay rate) for Kayla and $70 per week for Paula. Y Assume the Social Security tax rate is 6.0 percent on the first $110,000 of salaries and the…
Dixon Sales has six sales employees that receive weekly paychecks. Each employee earns $18.00 per hour and has worked 40 hours in the pay period. Total federal income tax withholdings are $518.40. Each employee pays 3.0% in state income tax, 6.0% in Social Security tax, 1.5% in Medicare tax, and 0.5% toward retirement savings. Journalize the recognition of the pay period ending January 19 that will be paid to the employees on January 26. If an amount box does not require an entry, leave it blank. If required, round your answers to two decimal places. Jan. 19
Thomas Martin receives an hourly wage rate of $25, with time-and-a-half pay for all hours worked in excess of 40 hours during a week. Payroll data for the current week are as follows: hours worked, 47; federal income tax withheld, $375; social security tax rate, 6.0%; and Medicare tax rate, 1.5%. What is the gross pay for Martin? Round your answer to the nearest whole dollar. Oa. $1,263 Ob. $1,175 Oc. $2,350 Od. $1,763
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