Assume that the payroll records of Ayayai Oil Company provided the following information for the...

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Accounting

Assume that the payroll records of Ayayai Oil Company provided the following information for the weekly payroll ended November 30, 2020. This is all the information I was given

Employee

Hours Worked

Hourly Pay Rate

Federal Income Tax

Union Dues

Year-to-Date Earnings Through Previous Week

T. King

44 $45 $442 $9 $133,900

T. Binion

46 10 97 5 23,200

N.Cole

40 15 148 5,700

C. Hennesey

42 20 230 7 49,500

Additional information: All employees are paid overtime at time and a half for hours worked in excess of 40 per week. The FICA tax rate is 7.65% for the first $132,900 of each employee's annual earnings and 1.45% on any earnings over $132,900. The employer pays unemployment taxes of 6.0% (5.4% for state and .6% for federal) on the first $7,000 of each employee's annual earnings.

(a)

Prepare the payroll register for the pay period. (Round answers to 2 decimal places, e.g. 15.25.)

AYAYAI OIL COMPANY Payroll Register For the Week Ending November 30, 2020

Earnings

Deductions

Employee

Total Hours

Regular

Overtime

Gross Pay

FICA

Federal Income Taxes

Union

Net Pay

T.King

44

$enter a dollar amount

$enter a dollar amount

$enter a dollar amount

$enter a dollar amount

$enter a dollar amount

$enter a dollar amount

$enter a dollar amount

T.Binion

46

enter a dollar amount

enter a dollar amount

enter a dollar amount

enter a dollar amount

enter a dollar amount

enter a dollar amount

enter a dollar amount

N.Cole

40

enter a dollar amount

enter a dollar amount

enter a dollar amount

enter a dollar amount

enter a dollar amount

enter a dollar amount

enter a dollar amount

C.Hennesey

42

enter a dollar amount

enter a dollar amount

enter a dollar amount

enter a dollar amount

enter a dollar amount

enter a dollar amount

enter a dollar amount

$enter a total amount

$enter a total amount

$enter a total amount

$enter a total amount

$enter a total amount

$enter a total amount

$enter a total amount

Answer & Explanation Solved by verified expert
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