You are an office employee in Furniture Galore, a retail store in a suburban mall. You have been given a schedule of salaries to use in preparing a payroll register for the pay period November 1–15.
PAYROLL REGISTER
(Objective 7-2c)
You are an office employee in Furniture Galore, a retail store in a suburban mall. You have been given a schedule of salaries to use in preparing a payroll register for the pay period November 1–15. The information you will need appears below.
Pay Period: Employees are paid twice monthly, on the 15th day and on the last day of the month. The pay date is two weeks after end of the pay period. This allows time for the sales amount for each salesperson to be finalized.
Commissions: Some of the employees are salespersons. Commissions for these employees are based on their net sales for the two-week period before the current pay date.
Taxes: Use 15 percent as the tax rate for federal income tax. Use 4.2 percent as the tax rate for Social Security. Use 1.45 percent as the tax rate for Medicare. Use 2 percent as the tax rate for state tax. (For purposes of this problem, use the same tax rate for all employees. In reality, the income tax and state tax rates might vary.)
Health Insurance: A deduction for health insurance is made from each paycheck. The deduction for single coverage is $80 per month. The deduction for family coverage is $160 per month. Your payroll register for each pay period should show a deduction for half of the monthly amount. Some employees decide not to participate in the health insurance plan and have no deduction for health insurance.
Employee No. Employee Monthly Salary Commission % Net Sales Nov. 1–15 Health Insurance
2782 Chase, Eric $1,160 6% $16,000 Single
2794 Hayward, Louise 1,160 6% 21,000 Family
2984 Dallas, Inell 1,625 None Single
2986 Alvarez, Ricardo 1,500 None Family
2999 Phillip, Michael 1,500 None Single
3020 Flynn, Kizzi 2,875 None Family
3025 Birin, Otto 1,400 None Single
3148 Myers, James 1,160 6% 12,436 Single
3241 Saha, Eunice 1,300 6% 17,540 None
3249 Majia, Dora 1,200 6% 15,560 Single
3325 Pedro, Silvia 1,200 6% 10,500 Family
3354 Kramer, Elsie 1,200 None None
Use spreadsheet software to create a payroll register similar to the one shown in Figure 7-9. The register is being prepared two weeks after the pay period ends and should be dated November 30 of the current year. Use the heading Bonus Pay rather than Overtime Pay.
Enter formulas to calculate:
The regular pay for the employees for the pay period. The regular pay is the monthly salary divided by two.
The bonus pay amount for employees who receive a commission.
The total gross pay.
The federal income, Social Security, Medicare, and state tax amounts.
The total tax amount.
Enter the health insurance deduction for each person.
Enter a formula to calculate the net pay for each person.
Requirements: Detail
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