Student Instructions: Each Problem(1, 2, 3&4)is worth 10 points. (40 Pointstotal
ID: 2377131 • Letter: S
Question
Student Instructions: Each Problem(1, 2, 3&4)is worth 10 points. (40 Pointstotal). Submit your answers properly formatted Excel Workbook file. Use a SEPARATE sheet for each problem.
Do not put all 4 problems on the same page.
Question # 1: CharlesGiles worked 46 hours during this pay?week.He is paid time?and?a?halffor hours over 40 and his pay rate is $17.90/hour. What was his overtime premiumpay forthis workweek?
Use the following information to answer Questions 2, 3 & 4:
The totals fromthe first payroll ofthe year are shown below.
Total Pay = $36, 195.10
FICA/OASDI = $ 2,244.10
FICA/HI = $ 524.83
FIT W/H = $ 6,515.00
State Tax W/H = $ 361.95
UnionDues = $ 500.00
Net Pay = $ 26,049.22
Question # 2: Journalize the entry to record the payroll.
Question # 3: Journalize the entry to record the employer
Explanation / Answer
Charles Giles worked 46 hours during this pay-week. He is paid time-and-a-half for hours over 40
and his pay rate is $17.90/hour. What was his overtime premium pay for this workweek?
Overtime Hours
Overtime rate
Overtime premium
= 6 (46-40)
= $26.85
= $161.10 (26 x $26.85)
The totals from the first payroll of the year are shown below.
Total Pay
=
$36, 195.10
FICA/OASDI
=
$ 2,244.10
FICA/HI
=
$ 524.83
FITW/H
=
$ 6,515.00
State Tax W/H =
$ 361.95
Union Dues
=
$ 500.00
Net Pay
=
$ 26,049.22