Question

Payroll Register The following data for Throwback Industries Inc. relate to the payroll for the week ended December 9, 2018: Hours Hourly Federal Retirements Weekly Salary Eme Worked Rate Income Tax Savings Aaron $46 $486.68 Cobb 295.84 Clemente 216.6 DiMaggio 264.18 Griffey, 3r. Mantle $2,140 Robinson 458.64 513.60 189.00 528.00 249.20 Williams 2.400 Vaughn 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, 2018. 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)

Answer 1

Answer -

Employee	Total hours worked	Earnings			Deductions					Net pay
		Regular	Overtime	Total	Social security tax	Medicare tax	Federal income tax	Retirements savings	Total
Aaron	44	$1840	$276	$2116	$126.96	$31.74	$486.68	$65	$710.38	$1405.62
Cobb	42	$1280	$96	$1376	$82.56	420.64	$295.84	$55	$454.04	$921.96
Clemente	45	$960	$180	$1140	$68.40	$17.10	$216.60	$95	$397.10	$742.90
DiMaggio	37	$1258		$1258	$75.48	$18.87	$264.18	$100	$458.53	$799.47
Griffey, Jr.	48	$1680	$504	$2184	$131.04	$32.76	$458.64	$95	$717.44	$1466.56
Mantle		$2140		$2140	$128.40	$32.10	$513.60	$70	$744.10	$1395.90
Robinson	35	$1260		$1260	$75.60	$18.90	$189.00	$90	$373.50	$886.50
Williams		$2400		$2400	$144.00	$36.00	$528.00	$60	$768.00	$1632.00
Vaughn	43	$1120	$126	$1246	$74.76	$18.69	$249.20	$75	$417.65	$828.35
Total		$13938	$1182	$15120	$907.20	$226.80	$3201.74	$705	$5040.74	$10079.26

Calculation:

Aaron:

As per given information, employees are paid 1.5 times the regular rate for all hours in excess of 40 hours per week.

So,

1. Regular pay:

= 40 hours * $46 per hour

= $1840

2. Overtime:

= [44 hours - 40 hours] * $46 per hour * 1.5 times

= $276

3. Total pay:

= Regular pay + Overtime

= $1840 + $276 = $2116

4. Social security tax:

= Total pay * 6%

= $2116 * 6% = $126.96

5. Medicare tax:

= Total pay * 1.5%

= $2116 * 1.5% = $31.74

6. Total deductions:

= Social security tax + Medicare tax + Federal income tax + Retirements savings

= $126.96 + $31.74 + $486.68 + $65 = $710.38

7. Net pay:

= Total pay - Total deductions

= $2116 - $710.38 = $1405.62

Cobb:

As per given information, employees are paid 1.5 times the regular rate for all hours in excess of 40 hours per week.

So,

1. Regular pay:

= 40 hours * $32 per hour

= $1280

2. Overtime:

= [42 hours - 40 hours] * $32 per hour * 1.5 times

= $96

3. Total pay:

= Regular pay + Overtime

= $1280 + $96 = $1376

4. Social security tax:

= Total pay * 6%

= $1376 * 6% = $82.56

5. Medicare tax:

= Total pay * 1.5%

= $1376 * 1.5% = $20.64

6. Total deductions:

= Social security tax + Medicare tax + Federal income tax + Retirements savings

= $82.56 + $20.64 + $295.84 + $55 = $454.04

7. Net pay:

= Total pay - Total deductions

= $1376 - $454.04 = $921.96

Clemente:

As per given information, employees are paid 1.5 times the regular rate for all hours in excess of 40 hours per week.

So,

1. Regular pay:

= 40 hours * $24 per hour

= $960

2. Overtime:

= [45 hours - 40 hours] * $24 per hour * 1.5 times

= $180

3. Total pay:

= Regular pay + Overtime

= $960 + $180 = $1140

4. Social security tax:

= Total pay * 6%

= $1140 * 6% = $68.40

5. Medicare tax:

= Total pay * 1.5%

= $1140 * 1.5% = $17.10

6. Total deductions:

= Social security tax + Medicare tax + Federal income tax + Retirements savings

= $68.40 + $17.10 + $216.60 + $95 = $397.10

7. Net pay:

= Total pay - Total deductions

= $1140 - $397.10 = $742.90

DiMaggio:

1. Regular pay:

= 37 hours * $34 per hour

= $1258

2. Social security tax:

= Total pay * 6%

= $1258 * 6% = $75.48

3. Medicare tax:

= Total pay * 1.5%

= $1258 * 1.5% = $18.87

4. Total deductions:

= Social security tax + Medicare tax + Federal income tax + Retirements savings

= $75.48 + $18.87 + $264.18 + $100 = $458.53

5. Net pay:

= Total pay - Total deductions

= $1258 - $458.53 = $799.47

Griffey, Jr.:

As per given information, employees are paid 1.5 times the regular rate for all hours in excess of 40 hours per week.

So,

1. Regular pay:

= 40 hours * $42 per hour

= $1680

2. Overtime:

= [48 hours - 40 hours] * $42 per hour * 1.5 times

= $504

3. Total pay:

= Regular pay + Overtime

= $1680 + $504 = $2184

4. Social security tax:

= Total pay * 6%

= $2184 * 6% = $131.04

5. Medicare tax:

= Total pay * 1.5%

= $2184 * 1.5% = $32.76

6. Total deductions:

= Social security tax + Medicare tax + Federal income tax + Retirements savings

= $131.04 + $32.76 + $458.64 + $95 = $717.44

7. Net pay:

= Total pay - Total deductions

= $2184 - $717.44 = $1466.56

Mantle:

1. Social security tax:

= Total pay * 6%

= $2140 * 6% = $128.40

2. Medicare tax:

= Total pay * 1.5%

= $2140 * 1.5% = $32.10

3. Total deductions:

= Social security tax + Medicare tax + Federal income tax + Retirements savings

= $128.40 + $32.10 + $513.60 + $70 = $744.10

4. Net pay:

= Total pay - Total deductions

= $2140 - $744.10 = $1395.90

Robinson:

1. Regular pay:

= 35 hours * $36 per hour

= $1260

2. Social security tax:

= Total pay * 6%

= $1260 * 6% = $75.60

3. Medicare tax:

= Total pay * 1.5%

= $1260 * 1.5% = $18.90

6. Total deductions:

= Social security tax + Medicare tax + Federal income tax + Retirements savings

= $75.60 + $18.90 + $189 + $90 = $373.50

7. Net pay:

= Total pay - Total deductions

= $1260 - $373.50 = $886.50

Williams:

1. Social security tax:

= Total pay * 6%

= $2400 * 6% = $144

2. Medicare tax:

= Total pay * 1.5%

= $2400 * 1.5% = $36

3. Total deductions:

= Social security tax + Medicare tax + Federal income tax + Retirements savings

= $144 + $36 + $528 + $60 = $768

4. Net pay:

= Total pay - Total deductions

= $2400 - $768 = $1632

Vaughn:

As per given information, employees are paid 1.5 times the regular rate for all hours in excess of 40 hours per week.

So,

1. Regular pay:

= 40 hours * $28 per hour

= $1120

2. Overtime:

= [43 hours - 40 hours] * $28 per hour * 1.5 times

= $126

3. Total pay:

= Regular pay + Overtime

= $1120 + $126 = $1246

4. Social security tax:

= Total pay * 6%

= $1246 * 6% = $74.76

5. Medicare tax:

= Total pay * 1.5%

= $1246 * 1.5% = $18.69

6. Total deductions:

= Social security tax + Medicare tax + Federal income tax + Retirements savings

= $74.76 + $18.69 + $249.20 + $75 = $417.65

7. Net pay:

= Total pay - Total deductions

= $1246 - $417.65 = $828.35