----Please help me to using EXCEL sheet and show/explain detail solution--- -. T
ID: 2540522 • Letter: #
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----Please help me to using EXCEL sheet and show/explain detail solution----. Thank you very much for your help.
It helps me a lot to learn this course. This way I can study myself. I really appreciate for your help.
I need to answer bottom of excel sheet on by one. Thank you so much.
Employees' earnings and taxes A weekly payroll summary made from labor time records shows the following data for Victory Parkway Inc.: E3-12) LO2 Hours LO3 Hourly Overtime Classification Direct Direct Direct Indirect Indirect Rate Regular Employee Holloway, T Jackson, D. McLean, J. Lyons, M. Taylor, A 40 40 40 40 40 $12 12 15 18Explanation / Answer
regular earnings overtime premium total FICA(8%) Income Net employee hours (A) rate(B) amount(C)=A*B hours(D) rate(E)=1.5*B amount(F)=D*E earnings(G)=C+F (H)=.08*G Tax(I)=0.15*G earnings(L)= G-[H+I] Holloway T 40 12 480 2 18 36 516 41.28 77.4 397.32 Jackson, D 40 12 480 3 18 54 534 42.72 80.1 411.18 Mclean, J 40 15 600 4 22.5 90 690 55.2 103.5 531.3 Lyons,M 40 9 360 0 360 28.8 54 277.2 Taylor,A 40 18 720 0 720 57.6 108 554.4 total 2820 226 423 2171 General Journal account title debit credit FUTA= 0.01*G 28 1 payroll 2820 SUTA=0.04*G 113 FICA tax payable 226 FICA 226 Employee Income Tax Payable 423 factory overhead 367 Wages Payable 2171 2 Wages 2171 cash 2171 3 Work In Progress 3187 Factory Overhead 367 payroll 2820 4 Factory Overhead 367 FICA payable 226 Federal unemployment tax payable 28 state unemployment tax payable 113
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