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. Characterize, look at, and differentiate week by week, every other week, semimonthly, and regularly scheduled pay periodsCalculate gross pay with extra time on the premise of timeCalculate gross pay for piecework, differential pay plan, straight commission with draw, variable commission scale and compensation in addition to commission. Finance.
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Section 9 Payroll

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#9 Payroll Learning Unit Objectives Calculating Various Types of Employees\' Gross Pay LU9.1 Define, analyze, and differentiate week by week, fortnightly, semimonthly, and regularly scheduled payroll interval Calculate net pay with additional time on the premise of time Calculate net pay for piecework, differential pay plan, straight commission with draw, variable commission scale and pay in addition to commission

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#9 Payroll Learning Unit Objectives Computing Payroll Deductions for Employees\' Pay; Employers\' Responsibilities LU9.2 Prepare and clarify the parts of a finance enroll Explain and ascertain government and state unemployment charges

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Payroll Cycles

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Hourly Rate of Pay; Calculation of Overtime Gross pay = Hours Employee worked x Rate every hour Hourly extra minutes pay rate = Regular time-based compensation rate x 1.5 Gross pay = Earnings for 40 hours + Earnings at time-and-a-half rate

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Hourly Rate of Pay; Calculation of Overtime Employee M T W Th F S Total R Valdez 13 8.5 10 8 11.25 10.75 61.5 Rate is $9.00 every hour Hourly additional time pay rate = Regular time-based compensation rate x 1.5 Gross pay = Earnings for 40 hours + Earnings at time-and-a-half rate 61.5 – 40 = 21.5 additional time hours $9 x 1.5 = 13.50 extra time rate (40 hours x $9) + (21.5 hours x 13.5) $360 + $290.25 = $650.25

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Straight Piece Rate Pay Straight Piece Rate Pay Gross pay = Number of units delivered x Rate per unit Ryan Foss created 900 dolls. He is paid $.96 per doll. Figure his gross pay 900 x $.96 = $864

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Differential Pay Schedule Differential Pay Schedule Gross pay = Number of units delivered x Various rates per unit Logan Company pays Abby Rogers on the premise of the accompanying calendar: Units Amount created per unit 1-50 $ .50 51-150 .62 151-200 .75 Over 200 1.25 Last week Abby delivered 300 dolls. What is Abby\'s gross pay? (50 x $.50) +(100 x $.62)+(50 x $.75) + (100 x $1.25) = $249.50

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Straight Commission with Draw Logan Company pays Jackie Okamoto a straight commission of 15% on her net deals (net deals are add up to deals less deals returns). In May, Jackie had net offers of $56,000. Logan gave Jackie a $600 attract May. What is Jackie\'s gross pay? Commission is a sure rate of the sum a sales representative offers. Draw is a progress on the salesman\'s bonus ($56,000 x .15) = $8,400 - 600 $7,800

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Variable Commission Scale Different commission rates for various levels of net deals Last month Jane Ring\'s net deals were $160,000. What is Jane\'s gross pay in light of the calendar? Up to $35,000 4% Excess of $35,000 to $45,000 6% Over $45,000 8% ($35,000 x .04) + ($10,000 x .06) + ($115,000 x .08) = $11,200

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Salary Plus Commission Gross Pay = Salary + Commission Logan Company pays Joe Roy a $3,000 month to month compensation in addition to a 4% commission for deals over $20,000. A month ago Joe\'s net deals were $50,000. Ascertain Joe\'s gross pay. $3,000 + ($30,000 x .04) = $4,200

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Payroll Register Rate Base Social Security 6.20% $97,500 Medicare 1.45 No Base

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Federal Income Tax Withholding (FIT) 1. Rate Method

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Table 9-1,9-2 Percentage technique salary charge withholding tables One Withholding Payroll Period Allowance Weekly $ 70.19 Bi weekly 140.38 Semimonthly 152.08 Monthly 304.17 Quarterly 912.50 SemiAnnually 1825.00 Daily or various (each 14.04 day of the finance time frame) Partial (b) MARRIED individual - if the measure of wages (after subtracting The measure of pay expense withholding recompenses) is: to withhold is: Not over $154 $0 Over - But not over - of abundance over - $154 $461 10% $154 $461 $1,455 $30.70 in addition to 15% $461 $1,455 $2,785 $179.80 in addition to 25% $1,455 $2,785 $4,165 $512.30 in addition to 28% $2,785 $4,165 $7,321 $898.70 in addition to 33% $4,165 $7,321… … $1940.18 in addition to 35% $7,321

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Percentage Method 1) Locate one withholding remittance and duplicate by the quantity of stipends worker claims $70.19 x 2 = $140.38 $2,250.00 - 140.38 $2,109.62 2) Subtract step 1 from representatives pay $2,109.62 - 1,455.00 $ 654.62 Tax $179.80 + .25 ( $654.62 ) $179.80 + 163.66 = $343.46 3) In table 9.2 find fitting table and figure pay impose

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Employers\' Responsibilities Federal Unemployment Tax Act (FUTA)- 6.2% assessment on the principal $7,000 paid to representatives as wages amid the schedule year 6.2% FUTA 5.4% SUTA credit .8% FUTA impose *State Unemployment Tax Act (SUTA)- 5.4% duty on the main $7,000 paid to representatives as wages amid the logbook year *Can be credited against the 6.2% government rate. Expect an organization has add up to wages of $20,000 and $4,000 of the wages are absolved from SUTA. What are the organization\'s SUTA and FUTA charges if the organization\'s SUTA rate is 5.8% because of a poor work record? $20,000-4,000 (absolved wages) = $16,000 SUTA = $16,000 x .054 = $928, FUTA = $16,000 x .008 = $128

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