Question & Answer: Summary Payroll Data In the following summary of data for a payroll period, some amounts have been intentionally omitted…..

Summary Payroll Data In the following summary of data for a payroll period, some amounts have been intentionally omitted. Calculate the amounts omitted below. Enter all your answers as positive amounts. Earnings 1. At regular rate 2. At overtime rate 3. Total eamings 51,800 Deductions: 4, FICA tax 5. Income tax withheld 6. Medical insurance 7. Union dues 8. Total deductions 9 Net amount paid $20,760 88,100 11,900 $128,000 $218,000 Accounts debited: 10. Wages 11. Sales Salaries 12. Office Salaries $183,400 $69,200

Summary Payroll Data In the following summary of data for a payroll period, some amounts have been intentionally omitted. Calculate the amounts omitted below. Enter all your answers as positive amounts. Earnings 1. At regular rate 2. At overtime rate 3. Total eamings 51,800 Deductions: 4, FICA tax 5. Income tax withheld 6. Medical insurance 7. Union dues 8. Total deductions 9 Net amount paid $20,760 88,100 11,900 $128,000 $218,000 Accounts debited: 10. Wages 11. Sales Salaries 12. Office Salaries $183,400 $69,200

Expert Answer

 

Total earnings – Total deductions = Net amount paid

Total earnings – 128000 = 218000

Total earnings = $ 346000

Now, Earnings at regular rate + overtime rate = Total earnings

Earnings at regular rate + 51800 = 346000

Earnings at regular rate = $ 294200

Amounts debited : Wages + Sales salaries + Office salaries = Total earnings

183400 + Sales salaries + 69200 = 346000

Sales salaries = $ 93400

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