In the Continuing Payroll Problem B, presented at the end of succeeding chapters, you will gain experience in computing wages and salaries and preparing a payroll register for Olney Company, Inc., a newly formed corporation.

At the end of subsequent chapters, information will be presented so that the payroll register can be completed step by step as you proceed through the discussion material relating to that particular section of the payroll register.

Olney Company is a small manufacturing firm located in Allentown, Pennsylvania. The company has a workforce of both hourly and salaried employees. Each employee is paid for hours actually worked during each week, with the time worked being recorded in quarterhour increments.

The standard workweek consists of 40 hours, with all employees being paid time and onehalf for any hours worked beyond the 40 regular hours. Wages are paid every Friday, with one weeks pay being held back by the company. Thus, the first payday for Olney Company is January 14 for the workweek ending January 8 (Saturday).

The information below will be used in preparing the payroll for the pay period ending January 8. Time Card No., Employee Name, Hourly Wage or Salary.

11. Rob A. Mangino -- $ 18.50 per hour

12. Inga C. Flores -- $19.25 per hour

13. Carson S. Palmetto -- $17.80 per hour

21. Randy F. Waters -- $20.70 per hour

22. Cathy T. Kroll -- $23.80 per hour

31. Carmen V. Ruppert -- $800 per week

32. William M. Scott -- $780 per week

33. Sarah A. Wickman -- $3,500 per month

51. Lucas T. Foley -- $4,500 per month

99. Marshal W. Olney -- $78,000 per year

compute the deductions, net pay, and taxable earnings.