Task 7.1

Prepare the New Pharmacy payroll record with the following columns: employee name, number of hours worked, hourly wage, weekly gross wage, social security discount, Medicare discount, amount of state taxes and savings of retirement. Calculate the gross salary of each employee. Calculate the amount withholding from Social Security and Medicare. Calculate the net pay for each employee. Jornalize the entry to record the payroll. The New Pharmacy pays for overtime hours and a half. It does not pay overtime to employees who are paid by salary. The company has 10 employees and the information on the hours worked is as follows:

Employee Name Hours Worked Hourly Salar Weekly Salary Retirement pay Union Pay

Juan del Pueblo	44	$8.50		$21.93	$15
Ramonita Ramrez	42	11.50		37.12	Gerencial, no paga cuota.
Brenda Montalvo	52		$1,100	88.00	Gerencial, no paga cuota.
Camilo Monge	40	7.25		23.02	15
Jorge Emmanueli	49	25.00		92.00	15
Mariel Estrada	60	10.00		48.00	15
Emanuel Reyes	40	8.00		25.60	15
Ernesto Ramrez	45	8.25		26.40	15
Daniela Morales	38	10.75		32.68	15
ngel Carrasquillo	43		860	68.80	Gerencial, no paga cuota.