Summary Payroll Data In the following summary of data for a payroll period, some

Question

Summary Payroll Data
In the following summary of data for a payroll period, some amounts have been intentionally omitted:
Earnings:
1. At regular rate ?
2. At overtime rate $55,000
3. Total earnings ?
Deductions:
4. Social security tax 22,020
5. Medicare tax 5,505
6. Income tax withheld 93,500
7. Medical insurance 12,700
8. Union dues ?
9. Total deductions 136,000
10. Net amount paid 231,000
Accounts debited:
11. Factory Wages 194,500
12. Sales Salaries ?
13. Office Salaries 73,400
a. Calculate the amounts omitted in lines (1), (3), (8), and (12).
(1) $
(3) $
(8) $
(12) $

Explanation / Answer

(3) Total earnings can be computed by adding net pay and total deductions:252200+147800=400000. (1) Subtracting, you get $400000- $60,000 = 340000 (8) Union dues can be computed by totaling all the other deductions and subtracting total deductions: 23200+6000+99600+14000-252000=5000 (12) Sales salaries: 400000-210000-80000=110,000

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