In the following summary of data for a payroll period, some amounts have been in
ID: 2461574 • Letter: I
Question
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 113,000
3. Total earnings $_______
Deductions:
4. FICA tax $54,375
5. Income tax withheld 144,750
6. Medical insurance 72,875
7. Union dues $ _________
8. Total deductions $294,750
9. Net amount paid $491,250
Accounts increased:
10. Factory Wages $551,500
11. Sales Salaries $_________
12. Office Salaries $100,000
Explanation / Answer
Earnings:
1. At regular rate $83,500
2. At overtime rate 113,000
3. Total earnings $196,500
Deductions:
4. FICA tax $54,375
5. Income tax withheld 144,750
6. Medical insurance 72,875
7. Union dues $ 22,750
8. Total deductions $294,750
9. Net amount paid $491,250
Accounts increased:
10. Factory Wages $551,500
11. Sales Salaries $451,500
12. Office Salaries $100,000
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