Question

Please assist with the following problem: Employees’ earnings using hourly and piece-rate methods The payroll records...

Please assist with the following problem:

Employees’ earnings using hourly and piece-rate methods

The payroll records of Grove Machining Co. show the following information for the week ended April 17:

Employee

Classification

Hours Worked

Production (Units)

Rate

Income

Tax

W/held

Manressa, C.

Direct

42

$18.00/hr

$80

Dorr, M.

Direct

48

$17.60/hr

84

Ginty, D.

Direct

39

2,000

$.44/piece

110

Norris,D

Direct

40

1,800

$.44/piece

100

Rancifer, K.

Indirect

40

$800/wk

100

Greer, B.

Indirect

50

$1,600/wk

240

Holbert, R.

Indirect

40

$1,400/wk

120

Hourly workers are paid time-and-a-half for overtime.

a. Determine the net earnings of each employee

b. Prepare the journal entries for the following:

1. Recording the payroll.

2. Paying the payroll.

3. Distributing the payroll. (Assume that the overtime premium will be distribute to all jobs worked on during the period.)

4. Recording the employer’s payroll taxes. (Assume that none of the employees has achieved the maximum wage bases for FICA and unemployment taxes.)

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1
Employee Classification Hours worked Production (Units) Rate (Hr./Piece/Week) Overtime hours Overtime pay Gross Earnings Income tax withheld FICA Tax withheld Net Earnings
Manressa C. Direct 42 18 2 27 774 80 59.21 634.789
Dorr. M. Direct 48 17.6 8 26.4 915.2 84 70.01 761.1872
Ginty D. Direct 39 2000 0.44 880 110 67.32 702.68
Norris D. Direct 40 1800 0.44 792 100 60.59 631.412
Rancifer K. Indirect 40 800 800 100 61.20 638.8
Greer B. Indirect 50 1600 1600 240 122.40 1237.6
Holbert R. Indirect 40 1400 1400 120 107.10 1172.9
Salaries expense Dr. 7161.2
FICA Tax payable 547.83
Federal Withholding payable 834
Net payroll payable 5779.37
Net payroll payable Dr. 5779.37
Cash 5779.37
0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Calculate Payroll K. Mello Company has three employees—a consultant, a computer programmer, and an administrator. The...
Calculate Payroll K. Mello 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 $4,000 per week $30 per hour $40 per hour Overtime earnings rate Not applicable 2 times hourly rate 1.5 times hourly rate Federal income tax withheld $925.00 $248.00 $505.00 For hourly employees, overtime is paid for hours worked in excess of 40 hours per week. For the current pay...
Calculate Payroll K. Mello Company has three employees-a consultant, a computer programmer, and an administrator. The...
Calculate Payroll K. Mello 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 $3,010 per week $30 per hour $44 per hour Overtime earnings rate Not applicable 2 times hourly rate 1.5 times hourly rate Federal income tax withheld $910 $241 $495 For hourly employees, overtime is paid for hours worked in excess of 40 hours per week. For the current pay...
Calculate Payroll K. Mello Company has three employees-a consultant, a computer programmer, and an administrator. The...
Calculate Payroll K. Mello 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 $3,310 per week $32 per hour $44 per hour Overtime earnings rate Not applicable 2 times hourly rate 1.5 times hourly rate Federal income tax withheld $910 $244 $510 For hourly employees, overtime is paid for hours worked in excess of 40 hours per week. For the current pay...
K. Mello Company has three employees-a consultant, a computer programmer, and an administrator. The following payroll...
K. Mello 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 $2,510 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 $240 $495 For hourly employees, overtime is paid for hours worked in excess of 40 hours per week. For the current pay period, the...
K. Mello Company has three employees-a consultant, a computer programmer, and an administrator. The following payroll...
K. Mello 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 $2,910 per week $32 per hour $42 per hour Overtime earnings rate Not applicable 2 times hourly rate 1.5 times hourly rate Federal income tax withheld $930 $249 $505 For hourly employees, overtime is paid for hours worked in excess of 40 hours per week. For the current pay period, the...
Breakin Away Company has three employees—a consultant, a computer programmer, and an administrator. The following 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 $4,000 per week $60 per hour $50 per hour Overtime earnings rate* Not applicable 1.5 times hourly rate 2 times hourly rate Number of withholding allowances 2 1 2 * For hourly employees, overtime is paid for hours worked in excess of 40 hours per week. For the current pay period,...
Crane Company has the following data for the weekly payroll ending January 31. Hours Employee M...
Crane Company has the following data for the weekly payroll ending January 31. Hours Employee M T W T F S Hourly Rate Federal Income Tax Withholding Health Insurance L. Helton 9 8 8 8 10 2 $12 $32 $10 R. Kenseth 7 9 7 7 7 5 14 36 27 D. Tavaras 10 11 8 8 9 0 15 57 26 Employees are paid 1.5 times the regular hourly rate for all hours worked in excess of 40 hours...
Calculate Payroll Breakin Away Company has three employees-a consultant, a computer programmer, and an administrator. The...
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 $2,810 per week $32 per hour $44 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...
In preparing for next year, on December 1 Tony Freedman hired two hourly employees to assist...
In preparing for next year, on December 1 Tony Freedman hired two hourly employees to assist with some troubleshooting and repair work. a. Prepare a payroll register for the three pay periods. b. Record the following transactions in the general journal and post them to the general ledger. Assume the following transactions: Dec. 7 Paid employee wages: Lance Kumm, 38 hours, and Anthony Hall, 42 hours. Dec. 14 Paid employee wages: Lance Kumm, 25 hours, and Anthony Hall, 36 hours....
Donohue Professional Services has three employees-a consultant, a computer programmer, and an administrator. The following payroll...
Donohue Professional Services 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 $2,910 per week $30 per hour $40 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...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT