Discussion on payroll register for employees

answer the following question
DIRECTIONS: Complete the following payroll register for employees of Corby Company for the week ended March 1, 20–. Taxable earnings should be computed on the basis of a 40-hour week with overtime earnings being paid at time and one-half for all hours over 40 each workweek (no overtime for salaried employees). Note: Carry each overtime hourly rate out to 3 decimal places and then round off to 2 decimal places. All employees’ wages are subject to the OASDI tax of 6.2% and the HI tax of 1.45%. The supplemental HI rate of 0.9% is not applicable.Use the partial wage-bracket tables provided to determine the amount of federal income tax to be withheld. For the salaried employees (#32 and #10), use the percentage method table. All workers are employed in a state that imposes a 2% income tax on the gross wages earned by each worker.please see the attached file for the complete question with the details and instruction

 

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Section C—DIRECTIONS: Complete the following payroll register for employees of Corby Company for the week ended March 1, 20–. Taxable earnings should be computed on the basis of a 40-hour week with overtime earnings being paid at time and one-half for all hours over 40 each workweek (no overtime for salaried employees). Note: Carry each overtime hourly rate out to 3 decimal places and then round off to 2 decimal places. All employees’ wages are subject to the OASDI tax of 6.2% and the HI tax of 1.45%. The supplemental HI rate of 0.9% is not applicable.

Use the partial wage-bracket tables provided to determine the amount of federal income tax to be withheld. For the salaried employees (#32 and #10), use the percentage method table. All workers are employed in a state that imposes a 2% income tax on the gross wages earned by each worker. (1 point for each correct answer—exclude totals row)

 

PAYROLL REGISTER
FOR WEEK ENDING                       March 1                                                            20–
EMPLOYEE’S NO.  

MARITAL STATUS

NO. W/H ALLOW. CLAIMED TIME RECORD REGULAR EARNINGS OVERTIME EARNINGS   DEDUCTIONS NET PAY EMPLOYEE’S NO.
 

MONDAY

 

TUESDAY

 

WEDNESDAY

 

THURSDAY

 

FRIDAY

 

SATURDAY

NO. HOURS (REGULAR)  

RATE PER HOUR

 

 

 

AMOUNT

NO. HOURS (O/T)  

RATE PER HOUR

 

 

 

AMOUNT

 

 

TOTAL EARNINGS

FICA TAXES      
 

 

OASDI

 

 

HI

 

FEDERAL INCOME TAX

 

STATE INCOME TAX

 

CHECK NO.

 

 

AMOUNT

41 S 2 8 8 9 8   12.00                   411   41
32 M 5 8 10 10 9 4 40 S 1,600.00                 412   32
63 M 0 8 8 8 8 8   13.00                   413   63
54 S 1 9 8 10 8 8 4   12.00                   414   54
45 M 2 10 8 8 9 8   12.50                   415   45
16 S 0 8 9 10 9 8 4   12.75                   416   16
7 S 1 5 6 8 8 8 4   12.00                   417   7
28 M 3 8 8 8 8 8   12.00                   418   28
49 M 0 8 9 8 8 9 6   12.00                   419   49
10 S 1 8 8 0 9 10 5 40 S 1,450.00                 420   10
      TOTALS………….……………..                        

 

AT–10                                                                                                        Chapter 4/Achievement Test

 

 

Source: Internal Revenue Service.

 

Source: Internal Revenue Service.

 

 

 

 

 

 

 

 

 

© 2020 Cengage®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

 

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