Question

Payroll Register The following data for Throwback Industries Inc. relate to the payroll for the week ended December 9, 2018: Hours Hourly Weekly Federal Retirements Employee Worked Rate Salary Income Tax Savings Aaron $30 $327.75 Cobb 388.29 205.01 Clemente DiMaggio Griffey, Jr. 302.4 367.08 Mantle $2,210 530.40 Robinson 178.50 Williams 2,480 545.60 Vaughn 478.40 Employees Mantle and Williams are office staff, and all of the other employees are sales personnel. All sales personnel are paid 1 times the regular rate for all hours in excess of 40 hours per week. The social security tax rate is 6%, and Medicare tax is 1.5% of each employee's annual earnings. The next payroll check to be used is No. 901. Required: 1. Prepare a payroll register for Throwback Industries Inc. for the week ended December 9, 20Y8. Assume the normal working hours in a week are 40 hours. Enter amounts as positive numbers. Round your intermediate calculations and final answers to the nearest whole cent (two decimal places). Check My Work 3 more Check My Work uses remaining < Previous Next > 1:56 PM 2/1/2020

Answer 1

Part 1

Employee	Total hours	Earnings	Deductions
		Regular	overtime	Total	Social security tax	Medicare tax	Federal income tax	Retirment savings	Total	Net pay
Aaron	42	1200	225	1425	85.5	21.38	257.14	85	425.99	935.37
Cobb	46	1680	126	1806	108.36	27.09	463.54	60	685.24	1227.26
Clemente	43	1040	13	1053	63.18	15.80	287.47	50	450.95	724.01
DIMaggio	36	1440		1440	86.4	21.60	211.68	105	392.28	919.60
Griffney Jr.	48	1520	288	1808	108.48	27.12	458.64	105	727.44	1240.32
Mantle				2210	132.6	33.15	482.40	85	718.15	1463.85
Robinson	38	1190		1190	71.4	17.85	171.00	70	326.50	822.25
Williams				2480	148.8	37.20	495.00	110	773.75	1668.40
Vaughn	45	1840	552	2392	143.52	35.88	380.00	65	587.50	1674.20
Total s		9910	1204	15804	948.24	237.07	3206.87	735.00	5087.80	10675.26

40*30 = 1200

5*30*1.5 = 225

40*42 = 1680

2*42*1.5 = 126

40*26 = 1040

1*26*1.5 = 13

36*40 = 1440

40*38 = 1520

4*38*1.5 =288

35*34 = 1190

40*46 = 1840

8*46*1.50 = 552

Social security tax = total earnings * 6%

Medicare tax = total earnings * 1.5%

Part 2

Account titles and explanation	Debit	Credit
Sales salaries expense (15804-4690)	11114
Office salaries expense (2210+2480)	4690
Social security tax payable		948.24
Medicare tax payable		237.07
Employees federal income tax payable		3323.43
Retirement savings payable		620.00
Salaries payable		10675.26