Question

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E3-13) Employees' earnings using hourly and piece-rate methods The payroll records of Linda Vista Machining Co. show the fol- lowing information for the week ended April 17: 01 Income Tax .03 Hours Production Employee Classification Worked (Units)RateW/held Manressa, C. Direct Dorr, M. Direct Ginty, D. Direct Norris, D. Direct Rancifer, K. Indirect Greer, B. Indirect Holbert, R. Indirect s 80 42 48 39 40 40 50 40 $18.00/hr $17.60/hr 2,000 $0.44/piece 110 1,800 $0.44/piece 100 $800/wk $1,600/wk $1,400/wk 84 100 240 120 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 payrol. 3. Distributing the payroll. (Assume that the overtime pre- mium will be distributed 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.)

Answer 1

FICA Classifi cation Regular Overtime Total Earnings Premium Earnings Income Net Employee Manressa, C Dorr, M Ginty. D Nomis, D Rancifer, K Greer, B Holbert, FR Hours Pieces Rate $18.00 $17.60 2,000 50.44 1,300 S0.44 Tax Withheld Earnings 756.00 18.00 S 774.00 619 80.00 S 632.08 Direct Direct rect 48 39 844.80 880.00 792.00 800.00 1,600.00 1,400.00 70.40 915.20 73.22 70.40 53.36 64.00 1.600.00 128.00 1,400.00 112.00 84.00 110.00 100.00 100.00 240.001,232.0 120.001.168 757.98 бд9.60 628.64 636.00 880.00 792.00 800.00 50 40 5800.00 8 $1,600.00 $1,400.00 Indirect S 7,072.80 S 88.40 $ 7,161.20 S 572.90 S834.00 $ 5,754.3 GENERAL JOURNAL Account Title Debit Credit Payroll FICA Tax Payable Employee Income Tax Payable Wages Payable 834.00 7.161 20 2. Wages Payable 7.161.20 7,161 20 7.072.30 88.40 3. Work in Process Factory Overhead Payro 7,161.20 Factory Overhead 930.96 FICA Tax Payable Federal Unemployment Tax Payable State Unemployment Tax Payable 572.90 286.45