Determine the gross pay for each employee listed below. When necessary, round intermediate calculations and the…

Determine the gross pay for each employee listed below. When
necessary, round intermediate calculations and the final answer to
the nearest cent.

Place Order
  1. Clay Jones is paid time-and-a-half for all hours over 40. He
    worked 45 hours during the week. His regular pay rate is $25 per
    hour.

    $

  2. Mary James worked 48 hours during the week. She is entitled to
    time-and-a-half for all hours in excess of 40 per week. Her regular
    pay rate is $20 per hour.

    $

  3. Lori Terry is paid a commission of 10 percent of her sales,
    which amounted to $23,650.

    $

  4. Nicole Smith’s yearly salary is $95,500. During the week, she
    worked 46 hours, and she is entitled to time-and-a-half for all
    hours over 40.

    $

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For tax purposes, assume that the maximum taxable earnings are
$118,500 for Social Security and $7,000 for the unemployment tax
and that all earnings are taxable for Medicare. For the payroll
register for the month of November for Shelby, Inc., determine the
taxable earnings for each employee. If an amount is zero, enter
“0”.

NAME

BEGINNING
CUMULATIVE
EARNINGS
TOTAL
EARNINGS
ENDING
CUMULATIVE
EARNINGS
TAXABLE EARNINGS
UNEMPLOYMENT SOCIAL SECURITY MEDICARE
Axton, C. 112,800.00 7,691.00 120,491.00
Edgar, E. 145,465.00 10,900.00 156,365.00
Gorman, L. 36,879.00 3,064.00 39,943.00
Jolson, R. 24,634.00 2,325.00 26,959.00
Nixel, P. 6,850.00 2,463.00 9,313.00

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On January 21, the column totals of the payroll register for
Great Products Company showed that its sales employees had earned
$14,960, its truck driver employees had earned $10,692, and its
office employees had earned $8,670. Social Security taxes were
withheld at an assumed rate of 6.2 percent, and Medicare taxes were
withheld at an assumed rate of 1.45 percent. Other deductions
consisted of federal income tax, $3,975, and union dues, $560.

Determine the amount of Social Security and Medicare taxes
withheld and record the general journal entry for the payroll,
crediting Salaries Payable for the net pay. All earnings were
taxable. If necessary, round intermediate calculations and the
final answer to the nearest cent. If an amount box does not require
an entry, leave it blank.

GENERAL JOURNAL PAGE      
DATE DESCRIPTION DOC. NO. POST. REF. DEBIT CREDIT
20–
Jan. 21 Sales Salary Expense
Driver Salary Expense
Office Salary Expense
Employees’ Federal Income Tax Payable
FICA Social Security Tax Payable
FICA Medicare Tax Payable
Employees’ Union Dues Payable
Salaries Payable
From payroll register.

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