During one week, three employees of the Pampered Pooch Pet Salon worked the number of hours shown below. All these employees receive overtime pay at one and a half times their regular hourly rate for any hours worked beyond 40 in a week. Compute the regular earnings, overtime earnings, and gross pay for each employee. $\begin{array}{|c|r|l|l|l|l|} \hline \begin{array}{c} \text { Empl oyee } \\ \text { No. } \end{array} & \begin{array}{c} \text { Regular } \\ \text { Hourly Rate } \end{array} & \begin{array}{l} \text { Hours } \\ \text { Worked } \end{array} & \begin{array}{l} \text { Regular } \\ \text { Earnings } \end{array} & \begin{array}{l} \text { Overtime } \\ \text { Earnings } \end{array} & \text { Gross Pay } \\ \hline 1 & \$ 26.00 & 46 & & & \\ \hline 2 & 16.00 & 44 & & & \\ \hline 3 & 18.50 & 45 & & & \\ \hline \end{array}$

Employee No. 1:Reg. Earn., $1,040.00; OT

Exam 10: Payroll Computations, Records, and Payment

Jill Monroe earns $25 per hour. She worked 48 hours this pay period and receives time-and-a-half for any hours worked over 40 hours per week. Jill's gross earnings are:

(Multiple Choice)

4.9/5

(40)

Question 21

After payroll computations are made, the hours worked, rates, earnings, and deductions are entered into a record called a(n)________.

(Short Answer)

4.9/5

(40)

Question 22

Time sheets or time cards are used to keep a record of hours worked each day by each employee paid on an hourly basis.

(True/False)

4.8/5

(33)

Question 23

FICA tax is commonly referred to as ________ tax.

(Short Answer)

4.9/5

(38)

Question 24

During one week, three employees of the Pampered Pooch Pet Salon worked the number of hours shown below. All these employees receive overtime pay at one and a half times their regular hourly rate for any hours worked beyond 40 in a week. Compute the regular earnings, overtime earnings, and gross pay for each employee. Empl oyee No. Regular Hourly Rate Hours Worked Regular Earnings Overtime Earnings Gross Pay 1 \ 26.00 46 2 16.00 44 3 18.50 45

(Essay)

4.9/5

(42)

Question 25

A person who is hired by a company and who is under the control and direction of the employer is called a(n)________.

(Short Answer)

4.9/5

(40)

Question 26

The monthly salaries for December and the year-to-date earnings as of November 30 for the three employees of the Design Warehouse are listed below. Compute the amount of social security tax and Medicare tax to be withheld from each of the employee's gross pay for December. Assume a 6.2 percent social security tax rate on a maximum of $122,700 for the calendar year. Assume a 1.45 percent Medicare tax rate.

(Essay)

4.9/5

(43)

Question 27

An employee whose regular hourly rate is $12 and whose overtime rate is 1.5 times the regular rate worked 48 hours in one week. In the payroll register, the employer should record an overtime premium of

(Multiple Choice)

5.0/5

(46)

Question 28

During the week ended April 26, 2019, Andy Tyler worked 40 hours. His regular hourly rate is $15. Assume that all of his earnings are subject to social security tax at a rate of 6.2 percent and Medicare tax at a rate of 1.45 percent. He also has deductions of $31 for federal income tax and $21 for health insurance. A)What is his gross pay for the week? B)What is the total of his deductions for the week? C)What is his net pay for the week?

(Short Answer)

4.8/5

(38)

Question 29

Which of the following statements is not correct?

(Multiple Choice)

4.8/5

(33)

Question 30

During the week ended January 11, 2019, Darlene Marcussen worked 40 hours. Her regular hourly rate is $18. Assume that all of her earnings are subject to social security tax at a rate of 6.2 percent and Medicare tax at a rate of 1.45 percent. She also has deductions of $40 for federal income tax and $21 for health insurance. A)What is her gross pay for the week? B)What is the total of his deductions for the week? C)What is her net pay for the week?

(Short Answer)

4.8/5

(32)

Question 31

An employee whose regular hourly rate is $12 and whose overtime rate is 1.5 times the regular rate worked 45 hours in one week. The employer should record an overtime premium of ________ in the payroll register.

(Short Answer)

4.9/5

(31)

Question 32

The amount of employees' ________ is recorded in the Wages Expense account.

(Short Answer)

4.9/5

(33)

Question 33

Because salaried employees who hold supervisory or managerial positions generally are not subject to wage and hour laws, they are known as ________ employees.

(Short Answer)

4.8/5

(44)

Question 34

An employee's gross earnings minus the necessary payroll deductions equals the employee's________.

(Short Answer)

4.8/5

(34)

Question 35

Assuming a Medicare tax rate of 1.45% and monthly gross wages of $5,000, the amount recorded in Medicare Tax Payable for one quarter for the employee's payroll deduction is

(Multiple Choice)

4.9/5

(32)

Question 36

For which of the following taxes is there no limit on the amount of annual earnings subject to the tax?

(Multiple Choice)

4.9/5

(38)

Question 37

Michael Miller is paid twice a month and had total gross earnings as of 10/15 of $116,800. His gross earnings for the period ending 10/31 were $6,000. If social security taxes are 6.2% on a maximum earnings of $122,700 per year and Medicare tax is 1.45% on all earnings, how much social security tax will be paid by Michael and how much will be paid by his employer for the period ending 10/31?

(Multiple Choice)

4.9/5

(31)

Question 38

The overtime rate is usually one and one-half times the regular hourly rate.

(True/False)

4.9/5

(39)

Question 39

Employees submit Form W-4 to their employers to show the number of withholding allowances they claim for federal income tax withholding purposes.

(True/False)

4.8/5

(39)

Question 40

Showing 21 - 40 of 89

Exam 10: Payroll Computations, Records, and Payment

Jill Monroe earns $25 per hour. She worked 48 hours this pay period and receives time-and-a-half for any hours worked over 40 hours per week. Jill's gross earnings are:

After payroll computations are made, the hours worked, rates, earnings, and deductions are entered into a record called a(n)________.

Time sheets or time cards are used to keep a record of hours worked each day by each employee paid on an hourly basis.

FICA tax is commonly referred to as ________ tax.

A person who is hired by a company and who is under the control and direction of the employer is called a(n)________.

An employee whose regular hourly rate is $12 and whose overtime rate is 1.5 times the regular rate worked 48 hours in one week. In the payroll register, the employer should record an overtime premium of

Which of the following statements is not correct?

An employee whose regular hourly rate is $12 and whose overtime rate is 1.5 times the regular rate worked 45 hours in one week. The employer should record an overtime premium of ________ in the payroll register.

The amount of employees' ________ is recorded in the Wages Expense account.

Because salaried employees who hold supervisory or managerial positions generally are not subject to wage and hour laws, they are known as ________ employees.

An employee's gross earnings minus the necessary payroll deductions equals the employee's________.

Assuming a Medicare tax rate of 1.45% and monthly gross wages of $5,000, the amount recorded in Medicare Tax Payable for one quarter for the employee's payroll deduction is

For which of the following taxes is there no limit on the amount of annual earnings subject to the tax?

The overtime rate is usually one and one-half times the regular hourly rate.

Employees submit Form W-4 to their employers to show the number of withholding allowances they claim for federal income tax withholding purposes.

Accounting: The Language of Business

Analyzing Business Transactions

Analyzing Business Transactions Using T Accounts

The General Journal and the General Ledger

Adjustments and the Worksheet

Closing Entries and Teh Postclosing Trial Balance

Accounting for Sales and Accounts Receivable

Accounting for Purchases and Accounts Payable

Cash Receipts, Cash Payments, and Banking Procedures

Payroll Taxes, Deposits, and Reports

Accruals, Deferrals, and the Worksheet

Financial Statements and Closing Procedures

Accounting Principles and Reporting Standards

Accounts Receivable and Uncollectible Accounts

Notes Payable and Notes Receivable

Merchandise Inventory

Property, Plant, and Equipment

Accounting for Partnerships

Corporations: Formation and Capital Stock Transactions

Corporate Earnings and Capital Transactions

Long-Term Bonds

Financial Statement Analysis

The Statement of Cash Flows

Departmentalized Profit and Cost Centers

Accounting for Manufacturing Activities

Job Order Cost Accounting

Process Cost Accounting

Controlling Manufacturing Costs: Standard Costs

Cost-Revenue Analysis for Decision Making

Filters