REQUIRED PAYROLL PROBLEM JacobCo is a small specialty machine shop that manufactures high-precision medical...

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Accounting

REQUIRED PAYROLL PROBLEM

JacobCo is a small specialty machine shop that manufactures high-precision medical instruments. Each employee fills out a time card for each day they work and are paid weekly on the Wednesday of the week following the week they worked. The Bookkeeper of the business takes the time card sheets each employee turns in on Monday and enters them into a spreadsheet. The company employs 3 machinists. Below is the spreadsheet for the week beginning 4/10/23 and ending 4/16/23.

4/10/2023 4/11/2023 4/12/2023 4/13/2023 4/14/2023 4/15/2023 4/16/2023
EMPLOYEE MON TUE WED THR FRI SAT SUN
P. Navarra 8 8 8 12 8 8 4
S. Chong 12 10 8 8 8 4 0
R. Jones 8 8 10 8 8 2 0

The hourly pay rate for each of the employees is as follows:

EMPLOYEE HOURLY RATE
P. Navarra $20
S. Chong $25
R. Jones $30

P. Navarra is married.

Both S. Chong and R. Jones are single.

None of the employees have checked box 2 on their W4 or claimed any dependents or other adjustments. Overtime is paid at 1 times the straight time rate for hours over 8 in one day and for all hours worked on Saturday and 2 times the straight time rate and for all hours worked on Sunday.

1. Required:

Calculate the Gross Wages using the normal method of calculating overtime for each employee and complete the table below:

4/10/2023 4/11/2023 4/12/2023 4/13/2023 4/14/2023 4/15/2023 4/16/2023 GROSS
EMPLOYEE MON TUE WED THR FRI SAT SUN WAGE
P. Navarra
S. Chong
R. Jones

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