Question: I need help completing the following problems: Problem 1 - In each of the following cases, calculate the total gross pay for a weekly pay
I need help completing the following problems:
Problem 1 -
In each of the following cases, calculate the total gross pay for a weekly pay period.
- An employee earns a weekly salary of $1,250 plus a 3% commission on sales. The employee sold $7,500 this week.
- An employee earns $15.00 per hour and worked 47 hours this week.
- A salary non-exempt employee earns an annual salary of $64,000. The employee worked 50 hours this week.
- A salary non-exempt employee earns a salary of $5,500. The employee worked 45 hours this week.
- A salaried exempt employee earns a weekly salary of $450. The employee worked 39 hours this week.
Problem 2 -
Use the percentage method to computer the federal income tax withheld for the following employees
Name | Marital Status | Withholdings | Salary
Akers, M. Single 1 $1,075 weekly
Bostic, A. Married 0 $970 Bi-weekly
Carter, E. Single 5 $15,600 quarterly
Dotson, G. Married 6 $2,090 Semi-monthly
Evans, R. Married 0 $3,220 monthly
Problem 3 -
Use the wage bracket method to compute the federal income tax withholding for the following employees:
Name | Marital Status | Withholdings | Salary
Adkins, G. Married 2 $1,750 weekly
Baxter, V. Single 0 $565 weekly
Collins, H. Single 3 $815 weekly
Deskins, L. Married 6 $7,070 monthly
Evans, E. Married 2 $4,750 monthly
Foster, C. Married 5 $990 Semi-monthly
Gross, W. Single 0 $125 daily
Harper, K. Single 4 $4,010 Semi-monthly
Lowe, B. Married 2 $6,500 monthly
Problem 4 -
The Adams Co. pays their employees monthly on the last day of the month. Use the following information to compute the total FICA tax for the December 30 payroll for the employees and the employer.
Employee | Annual Salary
Smith, J. $45,650
Jones, T. $29,500
Bass, J. $33,000
Carson, A. $123,280
Williams, M. $42,800
Jones, A. $27,700
Mullins, F. $108,500
Smith, E. $75,500
Evans, R. $21,000
Turner, R. $66,760
Problem 5 -
The Carter Co. has employed the following individuals since the beginning of the year:
Haynes, S. - Office Worker who makes $2,100 per month.
Jones, T. - Salesperson who makes $35,000 per year.
Smith, J. - Stock Clerk who makes $220 per week.
Evans, R. - Delivery who makes $365 per week.
Smith, R. - Maintenance who makes $330 per week.
The Carter Co. is located in a state that requires unemployment contributions by the employer at a rate of 3.25% on the first $10,000 earned by each employee. The Co. is about to pay the 41st weekly payroll ending October 14, 2019.
Calculate the amount of FUTA tax:
Calculate the amount of SUTA tax:
Problem 6 -
Keith Dalton is the owner and sole employee of the Dalton Co. Keith pays himself a salary of $3,000 each week. Keith is about to complete the payroll entries for the week ending June 3 (his YTD pay is $75,000).
Tax Information:
FICA - OASDI
FICA - HI
Federal Income Tax Withheld ($532 per pay period)
State Income Tax Withheld ($22% of Federal Withholding)
FUTA Tax
SUTA Tax (0.05% on the first $14,000)
Additional Deductions:
401-K Plan (3% per pay period)
Child Support Garnishment ($200 per pay period)
Health Insurance Premium ($170 per pay period)
Complete the journal entry to record the payroll:
Complete the journal entry to record the payroll tax:
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