Question

Accounting II AC2034

ASSIGNMENT 2 PAYROLL

Please Note: This assignment is an INDIVIDUAL assignment

The payroll records of Acme Company provided the following information for the weekly pay period ended March 20, 2020:

Employee     Employee     Hours Worked         Rate of Pay Hospital        Union             Earnings to End

   Name                No            For Week                                          Insurance     Dues             of Previous Week

Bugs Bunny       40                    40                            $34                   $30.00        $12.00           $43,000

Sylvester            50                    42                              36                     30.00          12.00              42,100

Tweety Bird       60                   40                              36                     30.00          12.00              28,000

Yosemite Sam   70                    40                              30                     30.00          12.00              32,000

Wile E Coyote    80                   40                              30                     30.00          12.00              36,000

Totals                                                                                                 $ 150.00      $ 60.00

Required:

1. Enter the relevant information in the proper columns of a payroll register and complete the register; calculate CPP and EI deductions. Charge the wages of Sylvester to Office Wages Expense and the wages of the remaining employees to Service Wages Expense. Calculate income tax deductions at 20% of gross pay. Employees are paid an overtime premium of 50% for all hours in excess of 40 per week.

2. Prepare all general journal entries to record the payroll register information, including the employer’s expenses and the payment to the Receiver General.

Answer 1

Employee name	Employee no.	Hour worked for week	Over time	Regular pay rate	Regular Pay	OT pre mium	Gross pay	EI	CPP	Income tax	Hospital insu.	union due	ToTal Deduction
Bugs Bunny	40	40	0	34	1360	0	1360	21.488	71.4	272	30	12	406.88
Sylvester	50	42	2	36	1440	36	1476	23.32	77.49	295.2	30	12	438.01
Tweety Bird	60	40	0	36	1440	0	1440	22.75	75.6	288	30	12	428.35
Yosemite Sam	70	40	0	30	1200	0	1200	18.96	63	240	30	12	363.96
Wile E Coyote	80	40	0	30	1200	0	1200	18.96	63	240	30	12	363.96
Total					6640	36	6676	105.47	350.49	1335.2	150	60	2001.16

EI Rate =1.58% of gross pay

Employee and employer CPP contribution rates for 2020 will be 5.25%

(use scroll bar to see the full answer) after gross pay EI, CPP, income tax , union due total deduction also available)

Net Pay (gross pay-Total Deduction)	Office Wages exp	service wages exp.
953.12		1360
1037.99	1476
1011.65		1440
836.04		1200
836.04		1200
4674.84	1476	5200

Charge the wages of Sylvester to Office Wages Expense and the wages of the remaining employees to Service Wages Expense.