Problem Information
Use the following tax rates and taxable wage bases: Employees' and Employer's OASDIâ6.2% both on $118,500; HIâ1.45% for employees and employers on the total wages paid. Employees' Supplemental HI of 0.9% on wages in excess of $200,000 was not applicable.
At Haddon, Inc., the office workers are employed for a 40-hour workweek and are paid on either an annual, monthly, or hourly basis. All office workers are entitled to overtime pay for all hours worked beyond 40 each workweek at 1.5 times the regular hourly rates.
Company records show the following information for the week ended December 26, 20--.
Employee
Salary
Hrs. Worked Cumulative Taxable Wages as of Last Pay Period (12/19/--) OFFICE King, M. $119,600.00 per year 40 $117,300.00 Manera, E. $6,500.00 per month 40 $76,500.00 Tate, S. $3,900.00 per month 48 $45,900.00 Yee, L. $12.50 per hour 44.5 $27,675.13 PLANT Diaz, R. $12.50 per hour 48 $14,778.96 Zagst, J. $14.50 per hour 52 $24,703.02
On the form below, calculate for each worker: (a) regular earnings, (b) overtime earnings, (c) total regular and overtime earnings, (d) FICA taxable wages, (e) FICA taxes to be withheld, and (f) net pay for the week ended December 26, 20--. Assume that there are 52 weekly payrolls in 20--. Also, determine the total where indicated. Round your answers to the nearest cent and use those rounded amounts in subsequent calculations. If an amount box does not require an entry, leave it blank.
Weekly Payroll for Period Ending December 26, 20-- Employee Salary Hrs. Worked Regular Earnings
(A) Overtime Earnings
(B) Total Reg. and O/T Earnings
(C) Cum. Taxable Wages as of Last Pay Period (12/19/--) FICA
Taxable
Wages
This Pay Period
(D) FICA
Taxes to be
Withheld
(E) Net Pay (F) OASDI HI OASDI HI OFFICE: King, M. $119,600.00 per year 40 $ $ $ $117,300.00 $ $ $ $ $ Manera, E. $6,500.00 per mo. 40 $76,500.00 Tate, S. $3,900.00 per mo. 48 $45,900.00 Yee, L. $12.50 per hr. 44.5 $27,675.13 PLANT: Diaz, R. $12.50 per hr. 48 $14,778.96 Zagst, J. $14.50 per hr. 52 $24,703.02 Totals .... .... $ $ $ .... $ $ $ $ $
Employer's FICA Taxes:
OASDI: $ HI: $
Problem Information
Use the following tax rates and taxable wage bases: Employees' and Employer's OASDIâ6.2% both on $118,500; HIâ1.45% for employees and employers on the total wages paid. Employees' Supplemental HI of 0.9% on wages in excess of $200,000 was not applicable.
At Haddon, Inc., the office workers are employed for a 40-hour workweek and are paid on either an annual, monthly, or hourly basis. All office workers are entitled to overtime pay for all hours worked beyond 40 each workweek at 1.5 times the regular hourly rates.
Company records show the following information for the week ended December 26, 20--.
| Employee | Salary | Hrs. Worked | Cumulative Taxable Wages as of Last Pay Period (12/19/--) | ||||||||
| OFFICE | King, M. | $119,600.00 per year | 40 | $117,300.00 | |||||||
| Manera, E. | $6,500.00 per month | 40 | $76,500.00 | ||||||||
| Tate, S. | $3,900.00 per month | 48 | $45,900.00 | ||||||||
| Yee, L. | $12.50 per hour | 44.5 | $27,675.13 | ||||||||
| PLANT | Diaz, R. | $12.50 per hour | 48 | $14,778.96 | |||||||
| Zagst, J. | $14.50 per hour | 52 | $24,703.02 | ||||||||
On the form below, calculate for each worker: (a) regular earnings, (b) overtime earnings, (c) total regular and overtime earnings, (d) FICA taxable wages, (e) FICA taxes to be withheld, and (f) net pay for the week ended December 26, 20--. Assume that there are 52 weekly payrolls in 20--. Also, determine the total where indicated. Round your answers to the nearest cent and use those rounded amounts in subsequent calculations. If an amount box does not require an entry, leave it blank.
| Weekly Payroll for Period Ending December 26, 20-- | |||||||||||
| Employee | Salary | Hrs. Worked | Regular Earnings (A) | Overtime Earnings (B) | Total Reg. and O/T Earnings (C) | Cum. Taxable Wages as of Last Pay Period (12/19/--) | FICA Taxable Wages This Pay Period (D) | FICA Taxes to be Withheld (E) | Net Pay (F) | ||
| OASDI | HI | OASDI | HI | ||||||||
| OFFICE: King, M. | $119,600.00 per year | 40 | $ | $ | $ | $117,300.00 | $ | $ | $ | $ | $ |
| Manera, E. | $6,500.00 per mo. | 40 | $76,500.00 | ||||||||
| Tate, S. | $3,900.00 per mo. | 48 | $45,900.00 | ||||||||
| Yee, L. | $12.50 per hr. | 44.5 | $27,675.13 | ||||||||
| PLANT: Diaz, R. | $12.50 per hr. | 48 | $14,778.96 | ||||||||
| Zagst, J. | $14.50 per hr. | 52 | $24,703.02 | ||||||||
| Totals | .... | .... | $ | $ | $ | .... | $ | $ | $ | $ | $ |
Employer's FICA Taxes:
| OASDI: | $ |
| HI: | $ |
Related questions
At Vision Club Company, office workers are employed for a40-hour workweek on either an annual or a monthly salary basis.
Given on the form below are the current annual and monthlysalary rates for five office workers for the week ended December14, 2018 (50th payday of the year). In addition, with this pay,these employees are paid their sliding-scale annual bonuses. Thebonuses are listed on the register.
For each worker, compute the following. Round your answers tothe nearest cent.
Regular earnings for the weekly payroll ended December 14,2018.
Overtime earnings (if applicable).
Total regular, overtime earnings, and bonus.
FICA taxable wages for this pay period.
FICA taxes to be withheld for this pay period.
| VISION CLUB COMPANY | |||||||||||||||
| Weekly Payroll for Period Ending December14, 2018 | |||||||||||||||
FICA Taxable Wages | FICA Taxes | ||||||||||||||
| Employee | Salary | Hours Worked | Annual Bonus | Regular Earnings | Overtime Earnings | Total Earnings | Cumulative Earnings as of Last Pay Period | OASDI | HI | OASDI | HI | ||||
| Marx, A. | $110,760/yr. | 40 | $48,200 | $ | $ | $104,370 | |||||||||
| Boxer, C. | 76,440/yr. | 40 | 23,400 | 72,030 | |||||||||||
| Lundy, R. | 5,356/mo. | 40 | 18,200 | 60,564 | |||||||||||
| Ruth, B. | 4,576/mo. | 40 | 11,800 | 51,744 | |||||||||||
| Gehrig, L. | 4,160/mo. | 48 | 6,200 | $ | 47,040 | ||||||||||
| Totals | $ | $ | $ | $ | $ | $ | $ | $ | |||||||
Employer's FICA taxes for week ended December 14, 2018:
| $ | $ | |
| OASDI | HI |
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¦ | $ | $ | |||||
