PSc 2-7 Calculate Gross Pay with CommissionsCalculate 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: Dennis McDonald earns both $8.35/hour and a 13% commission on all sales. During the most recent week, he worked 49 hours and made total sales of $13,700.Gross Pay = $2: Cathy Miller earns both $10.40/hour and $17 for every sale she completes. During the most recent week, she worked 47 hours and made a total of 71 sales.Gross Pay = $3: Lenny Boyer earns both $7.75/hour and a 20% commission on all sales. During the most recent week, he worked 44 hours and made total sales of $7,800.Gross Pay = $4: David White earns both $11.10/hour, $13 for every sale of Product A, and $17 for every sale of Product B. During the most recent week, he worked 53 hours and sold 37units of Product A and 37 units of Product B.Gross Pay = $5: Gary Montgomery earns both $19.10/hour and a 20% commission on all sales. During the most recent week, he worked 46 hours and made total sales of $14,900.Gross Pay = $ PSc 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: Amy Blackwood receives tips from customers as a standard component of her weekly pay. She is paid $2.25/hour by her employer and receives $175 in tips during themost recent 48-hour workweek.Gross Pay = $2: Jerold Matthews receives tips from customers as a standard component of his weekly pay. He is paid $3.26/hour by his employer and receives $408 in tips during themost recent 48-hour workweek.Gross Pay = $3: Laurel Woods receives tips from customers as a standard component of her weekly pay. She is paid $4.35/hour by her employer and receives $324 in tips during themost recent 35-hour workweek.Gross Pay = $4: Tricia Watkins receives tips from customers as a standard component of her weekly pay. She is paid $3.15/hour by her employer and receives $138 in tips during themost recent 48-hour workweek.Gross Pay = $

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PSc 2-7 Calculate Gross Pay with Commissions 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. NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation. 1: Dennis McDonald earns both $8.35/hour and a 13% commission on all sales. During the most recent week, he worked 49 hours and made total sales of $13,700. Gross Pay = $ 2: Cathy Miller earns both $10.40/hour and $17 for every sale she completes. During the most recent week, she worked 47 hours and made a total of 71 sales. Gross Pay = $ 3: Lenny Boyer earns both $7.75/hour and a 20% commission on all sales. During the most recent week, he worked 44 hours and made total sales of $7,800. Gross Pay = $

PSc 2-7 Calculate Gross Pay with Commissions 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. NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation. 1: Dennis McDonald earns both $8.35/hour and a 13% commission on all sales. During the most recent week, he worked 49 hours and made total sales of $13,700. Gross Pay = $ 2: Cathy Miller earns both $10.40/hour and $17 for every sale she completes. During the most recent week, she worked 47 hours and made a total of 71 sales. Gross Pay = $ 3: Lenny Boyer earns both $7.75/hour and a 20% commission on all sales. During the most recent week, he worked 44 hours and made total sales of $7,800. Gross Pay = $

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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Ryan Lawrence’s regular hourly rate is $15. He receives 1½ times the regular rate for any hours worked over 40 a week and double the rate for work on Sunday. During the past week, Lawrence worked 8 hours each day Monday through Thursday, 10 hours on Friday, and 5 hours on Sunday. Compute Lawrence’s gross pay for the past week
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.
Computing Weekly Gross Pay Ryan Lawrence’s regular hourly rate is $14. He receives 1½ times the regular rate for any hours worked over 40 a week and double the rate for work on Sunday. During the past week, Lawrence worked 8 hours each day Monday through Thursday, 9 hours on Friday, and 6 hours on Sunday. Compute Lawrence’s gross pay for the past week.
3. During one week, three employees of the Snowshoe Lodge worked the number of hours shown below. All these employees receive overtime pay at one and a half times their regular hourly rate for any hours worked beyond 40 in a week. Compute the regular earnings, overtime earnings, and gross pay for each employee. Regular Hourly Rate Overtime Earnings Hours Worked 48 Regular Earnings Gross Pay No. 1 $27.50 S18.25 41 3 $20.00 50
Computing Weekly Gross Pay Guy Fauchet's regular hourly rate is $12. He receives 1½ times the regular rate for hours worked in excess of 40 hours a week and double the rate for work on Sunday. During the past week, Fauchet worked 8 hours each day Monday through Thursday, 11 hours on Friday, and 7 hours on Sunday. Compute Fauchet's gross pay for the past week.
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…
Compute Payroll Floatin Away Company has three employees-a consultant, a computer programmer, and an administrator. The following payroll information is available for each employee: Regular earnings rate Overtime earnings rate* Number of withholding allowances Consultant Computer Programmer Administrator $3,010 per week $30 per hour $50 per hour Not applicable 1.5 times hourly rate 2 times hourly rate 3 2 1 *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 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 $276.54 to 24% of the difference between the employee's amount subject to withholding and $1,692.00. Assume further that the social security tax rate was 6.0%, the Medicare tax rate was 1.5%, and one withholding allowance is $81. Determine the gross pay and the net pay for each of the three…
Robert LaClerq is paid a regular wage of $9.50 an hour, overtime at the rate of 1 times the regular rate for all hours worked over 8 in any weekday, and overtime at the rate of 2 times the regular rate for hours worked on Saturdays, Sundays, and holidays. During the week ended February 14, LaClerq worked the following days and hours. Calculate the regular hours worked and the overtime hours worked. Then answer the questions that follow. Day Total Hours Worked RegularHours OvertimeHours Monday 7 Tuesday 10 Wednesday 8 Thursday 10 Friday 11 Saturday 2 48 1. How many regular hours did Mr. LaClerq work? Regular Hours 2. How many overtime hours did Mr. LaClerq work? Overtime Hours 3. What was Mr. LaClerq's regular earnings for the week? (Round your answer to 2 decimal places. Omit the…
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.
PSb 2-7 Calculate Gross Pay with Commissions Calculate gross pay for each 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: Billy Fortuna earns both $11.45/hour and a 10% commission on all sales. During the most recent week, he worked 47 hours and made total sales of $8,800. Gross Pay = $ 2: Emily Robinson earns both $8.10/hour and $35 for every sale she completes. During the most recent week, she worked 55 hours and made a total of 49 sales. Gross Pay = $ 3: Richard Eisenhower earns both $14.90/hour and a 14% commission on all sales. During the most recent week, he worked 43 hours and made total sales of $5,700. Gross Pay = $ 4: Zoey Jefferson earns both $19.10/hour, $5 for every sale of Product A, and $18 for every sale of Product B. During the most recent week,…
1 Robert LaClerq is paid a regular wage of $9.50 an hour, overtime at the rate of 1 times the regular rate for all hours worked over 8 in any weekday, and overtime at the rate of 2 times the regular rate for hours worked on Saturdays, Sundays, and holidays. During the week ended February 14, LaClerq worked the following days and hours. Calculate the regular hours worked and the overtime hours worked. Then answer the questions that follow. Total Hours Worked Regular Hours Overtime Hours Day Monday Tuesday Wednesday 66.5 10 8. Thursday 10 Friday 11 Saturday 48 1. How many regular hours did Mr. LaClerq work? Regular Hours 48 2. How many overtime hours did Mr. LaClerq work? Overtime Hours 3. What was Mr. LaClerq's regular earnings for the week? (Round your answer to 2 decimal places. Omit the "$" sign in your response.) Regular Earnings 24 4. What was Mr. LaClerq's overtime earnings for the week? (Round your answer to 2 decimal places. Omit the "$" sign in your response.) Overtime Earnings…