Question

In: Accounting

Calculate gross pay for each of the following employees. All are paid an overtime wage rate...

Calculate gross pay for each of the following employees. All are paid an overtime wage rate that is 1.5 times their respective regular wage rates. NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation.

1:Walter Pinkman assembles merchandise and is paid $0.12 for each unit assembled. During the most recent week, he worked 44 hours and assembled 5,602 units. Gross Pay = $

2:Sidney Darling is a telemarketer, who is paid $0.31 for every telemarketing call he places. During the most recent week, he worked 42 hours and placed 1,669 calls. Gross Pay = $

3:Pete Brees assembles merchandise and is paid $0.05 for each unit assembled. During the most recent week, he worked 51 hours and assembled 13,302 units. Gross Pay = $

4:Roy Carter is a telemarketer who is paid $0.36 for every telemarketing phone call he places. During the most recent week, he worked 50 hours and placed 1,564 calls. Gross Pay = $

Solutions

Expert Solution

1. answer is $702.80

regular earnings for all hours = 5602 units * $0.12 per unit = $672.24

regular hourly rate = 672.24/ 44 hours = 15.28

overtime rate per hour = 15.28 * 0.5 = 7.64

overtime earnings = 4 hours * 7.64 = 30.56

total earnings = regular earnings + overtime earnings = 672.24 + 30.56 = 702.80

2. answer is $529.71

regular earnings for all hours = 1669 calls * $0.31 per call = $517.39

regular hourly rate = 517.39/ 42 hours = 12.32

overtime rate per hour = 12.32*0.5 = 6.16

overtime earnings = 2 hours * 6.16 = 12.32

total earnings = regular earnings + overtime earnings = 517.39 + 12.32 = 529.71

3. answer is $736.83

regular earnings for all hours = 13302 units * $0.05 per unit = $665.1

regular hourly rate = 665.1/51 hours = 13.04

overtime rate per hour = 13.04*0.5 = 6.52

overtime earnings = 11 hours * 6.52 = 71.73

total earnings = regular earnings + overtime earnings = 665.1 + 71.73 = 736.83

4. answer is $619.34

regular earnings for all hours = 1564 calls * $0.36 per call = $563.04

regular hourly rate = 563.04/ 50 hours = 11.26

overtime rate per hour = 11.26 * 0.5 = 5.63

overtime earnings = 10 hours * 5.63 = 56.30

total earnings = regular earnings + overtime earnings = 563.04 + 56.30 = 619.34

Please up vote. Thanks!

ekkarill92 answered 8 months ago
Next > < Previous

Related Solutions

Calculate gross pay for each of the following employees. All are paid an overtime wage rate...
Calculate gross pay for each of the following employees. All are paid an overtime wage rate that is 1.5 times their respective regular wage rates. NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation. 1:Anita Workman receives tips from customers as a standard component of her weekly pay. She is paid $2.60/hour by her employer and receives $291 in tips during the most recent 44-hour workweek. Gross...
PSc 2-7 Calculate Gross Pay with Commissions Calculate gross pay for each of the following employees....
PSc 2-7 Calculate Gross Pay with Commissions Calculate gross pay for each of the following employees. All are paid an overtime wage rate that is 1.5 times their respective regular wage rates. NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation. 1: Dennis McDonald earns both $8.25/hour and a 11% commission on all sales. During the most recent week, he worked 44 hours and made total sales...
Calculate gross pay for each of the following employees of Launchpad Co. The company offers a...
Calculate gross pay for each of the following employees of Launchpad Co. The company offers a regular wage rate of $8.20/hour to all employees. Under an incentive plan in place for all employees, this rate increases for any employee who can meet weekly production goals. The increased rates and corresponding thresholds that must be met are as follows: $9.40/hour for producing at least 2,000 units $10.60/hour for producing at least 2,800 units $11.80/hour for producing at least 3,700 units $13/hour...
What is his hourly rate of pay if a regular workweek is 42 hours and overtime is paid at time-and-a-half the regular rate of pay?
A wage earner receives a gross pay of $699.93 for 52.5 hours of work. What is his hourly rate of pay if a regular workweek is 42 hours and overtime is paid at time-and-a-half the regular rate of pay?
Develop a Java application that determines the gross pay for each of three employees.
(Salary Calculator) Develop a Java application that determines the gross pay for each of three employees. The company pays straight time for the first 40 hours worked by each employee and time and a half for all hours worked in excess of 40. You’re given a list of the employees, their number of hours worked last week and their hourly rates. Your program should input this information for each employee, then determine and display the employee’s gross pay. Use class...
For each of the following employees, calculate the Social Security tax for the weekly pay period...
For each of the following employees, calculate the Social Security tax for the weekly pay period described: NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation. 1: Ronald McCarthy earned gross pay of $925. Each period he makes a 401(k) contribution of 6% of gross pay. His current year taxable earnings for Social Security tax, to date, are $29,500. Total Social Security tax = $ 2: Jill...
For each of the following employees, calculate the Medicare tax for the weekly pay period described:...
For each of the following employees, calculate the Medicare tax for the weekly pay period described: NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation. 1: Mark Dailey's filing status is Married Filing Jointly, and he has earned gross pay of $3,450. Each period he makes a 403(b) contribution of 9% of gross pay. His current year taxable earnings for Medicare tax, to date, are $312,500. Total...
For each of the following employees, calculate the Medicare tax for the weekly pay period described:...
For each of the following employees, calculate the Medicare tax for the weekly pay period described: NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation. 1:Paul Robinson's filing status is married filing jointly, and he has earned gross pay of $2,700. Each period he makes a 403(b) contribution of 7% of gross pay . His current year taxable earnings for Medicare tax, to date, are $268,000. Total...
Employers are required to pay all of the following on the wages paid to each employee...
Employers are required to pay all of the following on the wages paid to each employee except: Multiple Choice Medicare taxes. Worker's compensation insurance. Pension plan benefits. Social security taxes.
Calculate the following net pay for each of the given set of employees. Task 2: Control...
Calculate the following net pay for each of the given set of employees. Task 2: Control Procedures for Payroll Systems Identify control procedures for payroll systems depending on the execution and recording of the related transactions.
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT