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Payroll Register The following data for Throwback Industries, Inc. relate to the payroll for the week ended December 9, 20Y8: Hours Hourly Weekly Federal Retirements Employee Worked Rate Salary Income Tax Savings Aaron 44 $30 $317.40 $40 Cobb 42 42 388.29 35 Clemente 47 26 249.47 70 DiMaggio 37 40 310.8 105 Griffey, Jr. 43 38 355.11 65 Mantle $2,110 506.40 105 Robinson 35 34 178.50 105 Williams 2,360 519.20 60 Vaughn 48 46 478.40 105 Employees Mantle and Williams are office staff, and all of the other employees are sales personnel. All sales personnel are paid 1½ 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).

Journalize the entry to record the payroll for the week. If required, round your answers to two decimal places. If an amount box does not require an entry, leave it blank.

Financial Management, Finance

  • Category:- Financial Management
  • Reference No.:- M92750318

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