Both are paid time and a half for any hours worked overeighthours each workday and work on Saturdays and are paid twicetheregular hourly rate for work on Sundays and holidays. Bonno's rate pay is $17.65 Ryan's rate pay is $18.00
Employee TimeRecord TimeWorked
S MT W T F S S M TW T FS
Bonno, A.V. 8 8 8 8 8 4 8 8 8 88 84 Ryan,N.A. 8 8 8 8 8 8 8 8 8 8 8 88What is the regular, overtime, & total earnings foreachemployee?
Employee TimeRecord TimeWorked
S MT W T F S S M TW T FS
Bonno, A.V. 8 8 8 8 8 4 8 8 8 88 84
Related questions
Kipley Company is a small manufacturing firm located inPittsburgh, Pennsylvania. The company has a workforce of bothhourly and salaried employees. Each employee is paid for hoursactually worked during each week, with the time worked beingrecorded in quarter-hour increments. The standard workweek consistsof 40 hours, with all employees being paid time and one-half forany hours worked beyond the 40 regular hours.
Wages are paid every Friday, with one week's pay being held backby the company. Assume that the first payday for Kipley Company isJanuary 14 for the workweek ending January 8 (Saturday).
You are being asked to complete Kipley's Payroll Register forthe pay period ending January 8, 20--. Ms. Glenda B. Robey preparesthe Time Clerk's Report for each pay period. This alongwith the Hourly Wage / Salary Report is provided.
Requirement:
Record the regular hours and the overtime hours worked for eachemployee, using the time clerk's report as your reference.
Complete the Regular Earnings columns (Rate per Hour and Amount)for hourly employees. For only hourly employees that workedovertime, complete the Overtime Earnings columns (Rate per Hour andAmount).
For salaried workers, complete the Regular Earnings column and showthe hourly overtime rate and earnings only if overtime wasworked.
Record the Total Earnings for each employee by adding theRegular Earnings and the Overtime Earnings.
Hourly Wage / Salary Report
Kipley's Hourly Wage / Salary Report is provided below, listingeach employee's assigned time card number as well as theirindividual hourly rate or salary.
| Time Card No. | Employee Name | Hourly Wage orSalary | ||
|---|---|---|---|---|
| 11 | Fran M. Carson | $17.50 | per hour | |
| 12 | William A. Wilson | 17.25 | per hour | |
| 13 | Harry T. Utley | 18.10 | per hour | |
| 21 | Lawrence R. Fife | 17.90 | per hour | |
| 22 | Lucy K. Smith | 19.75 | per hour | |
| 31 | Gretchen R. Fay | 515 | per week | |
| 32 | Glenda B. Robey | 2,700 | per month | |
| 33 | Thomas K. Schork | 3,350 | per month | |
| 51 | Barbara T. Hardy | 2,510 | per month | |
| 99 | Carson C. Kipley | 52,000 | per year | |
Time Clerk's Report
Ms. Glenda B. Robey prepares the time clerk's report for eachpay period. Her report for the first week of operations is givenbelow.
Note: All employees, except for Carson Kipley, are paidfor hours worked beyond 40 at one and one-half times their regularhourly rate of pay.
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Payroll Register
This is the first task to completing Kipley Company's payrollregister. Complete the steps outlined below:
Record the regular hours and the overtime hours worked for eachemployee, using the time clerk's report as your reference.
Complete the Regular Earnings columns (Rate per Hour and Amount)for hourly employees. For only hourly employees that workedovertime, complete the Overtime Earnings columns (Rate per Hour andAmount).
For salaried workers, complete the Regular Earnings column and showthe hourly overtime rate and earnings only if overtime wasworked.
Record the Total Earnings for each employee by adding theRegular Earnings and the Overtime Earnings.
If an amount box does not require an entry, leave it blank orenter "0". If required, round your intermediate calculations to thenearest cent and use the rounded amounts in subsequentcomputations. Round fraction values to the nearest two decimalplaces, e.g. 1 1/2 to 1.50.
| KIPLEY COMPANY, INC. Employee Payroll Register For Period Ending January 8, 20 -- | ||||||||||
| Regular Earnings | Overtime Earnings | |||||||||
| Time Card No. | Name | Marital Status | No.W/H Allow. | Hours Worked | Rate per Hour | Amount | Hours Worked | Rate per Hour | Amount | Total Earnings |
|---|---|---|---|---|---|---|---|---|---|---|
| 11 | Carson, F. | S | 1 | $ | $ | $ | $ | $ | ||
| 12 | Wilson, W. | S | 0 | |||||||
| 13 | Utley, H. | M | 2 | |||||||
| 21 | Fife, L. | M | 4 | |||||||
| 22 | Smith, L. | S | 2 | |||||||
| 31 | Fay, G. | M | 3 | â¦â¦â¦ | ||||||
| 32 | Robey, G. | M | 6 | â¦â¦â¦ | ||||||
| 33 | Schork, T. | S | 1 | â¦â¦â¦ | ||||||
| 51 | Hardy, B. | M | 5 | â¦â¦â¦ | ||||||
| 99 | Kipley, C. | M | 7 | â¦â¦â¦ | ||||||
| Totals | $ | â¦â¦â¦ | â¦â¦â¦ | $ | $ | |||||
Note: For the exercises and problems in this chapter, use the following tax rates:
FICA-Employer and employee 8% if the first $120,000 of earnings per employee per calender year.
State unemployment: 4% of the first $8,000 of earnings per employee per calender year.
Federal unemployment: 1% of the first $8,000 of earnings per employee per calender year.
Federal income tax witholding: 10% of each employee's gross earnings unless otherwise stated.
E3-1 Computing payroll earnings
R. Herbert of Crestview Manufacturing Co. is paid at the rate of $20 an hour for an eight-hour day, with time and a half for overtime and double time for Sundays and holidays. Regular employment is on the baiss of 40 hours a week, five days a week. At the end of a week, the labor time record shows the following:
| Job or Indirect Labor | Sunday | Monday | Tuesday | Wednesday | Thursday | Friday | Saturday | Total |
| 007 | 5 | 5 | 3 | 5 | 6 | 24 | ||
| 009 | 3 | 3 | 5 | 6.5 | 5 | 22.5 | ||
| Machine Repair | 4 | 6.5 | 10.5 | |||||
| Total | 4 | 8 | 8 | 8 | 11.5 | 11 | 6.5 | 57 |
Because jobs are randomly scheduled for the overtime period, any overtime oremium is charged to Factory Overhead.
a. Compute Herbert's total earnings for the week.
b. Present the journal entry to distribute Herbert's total earnigns.
(Note: These single journal entries here and in E3-2, E3-3, E3-4, E3-8 and E3-9 are for the purpose of illustrating the principle involved. Normally, the entries would be made for the total factory payroll plus the adminstrative sales and payroll.)
E3-9 Recording the payroll and payroll taxes
Using the earnings data developed in e3-1, and assuming that this was the 50th week of employment for Herbert and the prevoius earnigns to date were $119,800, prepare the journal entries for the following:
a. The week's payroll
b. payment of the payroll
c. The employer's payroll taxes
Note: In this chapter and in all succeeding work throughout the course, unless instructed otherwise, calculate hourly rates and overtime rates as follows:
| 1. | Carry the hourly rate and the overtime rate to 3 decimal places and then round off to 2 decimal places (round the hourly rate to 2 decimal places before multiplying by one and one-half to determine the over-time rate). | |
| 2. | If the third decimal place is 5 or more, round to the next higher cent. | |
| 3. | If the third decimal place is less than 5, simply drop the third decimal place. | |
| Examples: | Monthly rate $1,827 Weekly rate ($1,827 Ã 12)/52 = $421.615 rounded to $421.62 Hourly rate $421.62/40 = $10.540 rounded to $10.54 O.T. rate $10.54 Ã 1.5 = $15.81 | |
Also, use the minimum hourly wage of $7.25 in solving these problems and all that follow.
Example 2-6
John Dilcher is paid an hourly rate of $18.50 per hour, and he worked 49 hours this week. His gross pay is:
| 40 hours à $18.50 | = | $740.00 |
| 9 hours à $27.75 ($18.50 à 1.5) | = | 249.75 |
| Total gross pay | = | $989.75 |
John Porter is an hourly employee of Motter Company located in New York City. This week, Porter had to travel to the company's regional office in Albany. He left Sunday at noon and arrived in Albany at 3:00 P.M. During the week, he worked his normal 40 hours in the Albany office (Monday through Fridayâ9 A.M. to 5 P.M.). In addition, he attended the company's 5-hour work training session on Wednesday evening. Porter's hourly rate of pay is $15.65 per hour.
Round your overtime rate to two decimal places and use the rounded amount in subsequent computations. Round the final answers to the nearest cent.
a. Porter's overtime earnings for the week are
$
b. Porter's total earnings for the week are
$
