Due to increased work volume at McMahon's Robotics Emporium, the owner has decided that she needs to add another payroll clerk. What type of expense is the new payroll clerk's salary? Direct expense Indirect expense Variable expense Overhead expense
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- Completing the Payroll Register The Employee Payroll Register presents all the computations previously performed as it applies to this payroll period. Complete the following steps (if a field should be blank, leave it blank): Record the amount to be withheld for group insurance. Record the amount to be withheld for health insurance. Each worker is to be paid by check. Assign check numbers provided to the correct employee. Compute the net pay for each employee. Total the input columns. KIPLEY COMPANY, INC.Payroll RegisterFor Period Ending January 8, 20-- EARNINGS DEDUCTIONS NET PAY Name Gross OASDI HI FIT SIT SUTA CIT SIMPLE Grp. Ins. Health Ins. Ck. No. Amount Carson, F. $700.00 $43.40 $10.15 $48.00 $21.49 $0.42 $21.00 $20.00 Wilson, W. 897.04 55.62 13.01 68.00 27.54 0.54 26.91 50.00 Utley, H. 678.75 42.08 9.84 14.00 20.84 0.41 20.36 40.00 Fife, L. 877.10 54.38 12.72 33.00 26.93 0.53 26.31 50.00 Smith, L. 790.00 48.98 11.46 59.00…Forman's Services is a small accounting firm that offers payroll and bookkeeping services to small businesses and individuals. A local merchant has approached Will Forman, the owner, about taking over his payroll disbursements, but is concerned about the fees Forman's normally charges. The costs and revenues at Forman's Services follow. Sales revenue Costs FORMAN'S SERVICES Annual Income Statement Labor Equipment lease Rent Supplies Owner's salary Other costs Total costs Operating profit (loss) If Forman's gets the merchant's business. It will incur an additional $31,000 in labor costs. Will also estimates that he will have to Increase equipment leases by about 10 percent, supplies by 15 percent, and other costs by 5 percent. There will be no additional rent. Required: a. What are the differential costs that would be incurred as a result of adding this new client? b. Will would normally charge about $51,000 in fees for the services the store would require. How much could he offer to…· Prepare and use a payroll register including Social Security and Medicare withholdings. Use =IF and =ROUND to design the Social Security tax and union dues formulas. Record journal entries for payroll, employer's tax liability, and payment of payroll taxes. Identify behavior patterns among payroll taxes over time. Alter the worksheet to include an additional employee. Create a chart showing the percentage of an employee's gross pay that is withheld for taxes and other such deductions, and how much is left over as net pay. PROBLEM DATA Reno Graphics has five employees, and they are paid at the end of each month. Payroll data for November are as follows: Employee Jones Miller Smith Williams Zlotorzynski Gross Pay for November $9,000 1,530 1,210 12,000 4,200 Federal Income Tax Withheld $1,948 137 89 Cumulative Gross Pay at October 31 $? 15,570 6,550 2,788 661 Other information (using 2011 rates) is as follows: a. Social security taxes are 4.2% of monthly gross pay up to a cumulative…
- From the following information, prepare a general journal entry to record the employee benefits expense for Jagger Company for the weekly payroll of May 9. (Click the icon to view the payroll register.) Prepare a general journal entry to record the employee benefits expense for Jagger Company for the weekly payroll of May 9. (Record debits first, then credits. Explanations are not required. Round your answers to the nearest cent.) Es Date May 9 Get more help. Accounts PR Debit (... Credit Payroll register Employee Tad Ness John Yu Tom Wait Total Salary 910 650 830 Print Tax 173 89 158 Deductions CPP 43 30 39 Done ΕΙ 15 11 13 Clear all Net Pay 679 520 620 - X Check answerYou just hired your first employee. What are the first two steps in Quickbooks to set up your own payroll? A. Sign up for a payroll service Setup Payroll Schedule. B. Sign up for a payroll service and complete the Payroll Setup Interview. C. Complete the Payroll Setup Interview and add your new employee. D. Turn on payroll through your preferences and complete the Payroll Setup Interview.When setting up an employee in payroll, where can you enter the information that the employee will be receiving payments by cheque? Select one: In the pay schedule window In the employee withholdings window In the payment options window In the pay types window
- After evaluating the information provided by the employees of La Nueva Era bookstore: Determine the amounts that must be reported in the employees' W2.Calculate the Social Security and Medicare payment that the employer must make.Calculate the state unemployment that the employer must pay at the rate of 6% of the first $ 10,000 the employee earns.Make the entries to the wage related to the debts contracted with the different agencies in contributions by the employer. Employee Name Weekly salary Retirement payment Juan del Pueblo $1,250.00 $21.93 Ramonita Ramírez $950.00 $37.12 Brenda Montalvo $1,100.00 $88.00 Camilo Monge $590.00 $23.02 Jorge Emmanueli $860.00 $92.00 Mariel Estrada $1,020.00 $48.00 Emanuel Reyes $750.00 $25.60 Ernesto Ramírez $640.00 $26.40 Daniela Morales $1,000.00 $32.68 Ángel Carrasquillo $860.00 $68.80Willa is getting ready to prepare a Form 940 for her payroll department. What information does she need to do this? A. information about state and local wages and taxes B. the total number of employees on payroll OC. the amount of employee salaries and wages from the previous year OD. her company's Employee ID number, name, and addressThe amount of time over which an employee is paid is known as ___________. payroll pay period payroll register payroll clerk
- INPUT VALIDATIONDescribe the types of input edits used for the following data in a payrollsystem. a. Employee nameb. Employee numberc. Social security number d. Rate per hour or salarye. Marital statusf. Number of dependents g. Cost centerh. Regular hours workedi. Overtime hours workedImagine you are an employer (an awesome one). When should you recognize short-term employee benefits? * A. Every 15th and 30th of the month. B. Every 1st day of the month C. Never! D. When the employees have rendered service in exchange for the employee benefits.Felipe's Mexican Restaurant incurred salaries expense of $59,000 for 2024. The payroll expense includes employer FICA tax, in addition to state unemployment tax and federal unemployment tax. Of the total salaries, $16,000 is subject to unemployment tax. Also, the company provides the following benefits for employees: health insurance (cost to the company, $2,400), life insurance (cost to the company, $400), and retirement benefits (cost to the company, 5% of salaries expense). A (Click the icon to view payroll tax rate information.) More info Requirements For all payroll calculations, use the following tax rates and round amounts to the nearest cent: 1. Journalize Felipe's expenses for employee benefits and for payroll taxes. Explanations are not required. Employee: OASDI: 6.2% on first $132,900 earned; Medicare: 1.45% up to $200,000, 2.35% on earnings above $200,000. 2. What was Felipe's total expense for 2024 related to payroll? Employer: OASDI: 6.2% on first $132,900 earned per…
