Reference no: EM131118471
In the Continuing Payroll Problem A, presented at the end of succeeding chapters, you will gain experience in computing wages and salaries and preparing a payroll register for Kipley Company, Inc., a newly formed corporation. At the end of subsequent chapters, information will be presented so that the payroll register can be completed step by step as you proceed through the discussion material relating to that particular section of the payroll register. Kipley Company is a small manufacturing firm located in Pittsburgh, Pennsylvania. The company has a workforce of both hourly and salaried employees. Each employee is paid for hours actually worked during each week, with the time worked being recorded in quarter-hour increments. The standard workweek consists of 40 hours, with all employees being paid time and one-half for any hours worked beyond the 40 regular hours. Wages are paid every Friday, with one week's pay being held back by the company. Thus, the first payday for Kipley Company is January 14 for the workweek ending January 8 (Saturday). The information below will be used in preparing the payroll for the pay period ending January 8.
Time Card No.
|
Employee Name
|
Hourly Wage or Salary
|
11
|
Fran M. Carson
|
$ 7.50 per hour
|
12
|
William A. Wilson
|
7.25 per hour
|
13
|
Harry T. Utley
|
8.10 per hour
|
21
|
Lawrence R. Fife
|
7.90 per hour
|
22
|
Lucy K. Smith
|
9.75 per hour
|
31
|
Gretchen R. Fay
|
515 per week
|
32
|
Glenda B. Robey
|
1,700 per month
|
33
|
Thomas K. Schork
|
2,350 per month
|
51
|
Barbara T. Hardy
|
1,510 per month
|
99
|
Carson C. Kipley
|
52,000 per year
|
Ms. Glenda B. Robey prepares the time clerk's report for each pay period. Her report for the first week of operations is given below.
*All employees, except for Carson Kipley, are paid for hours worked beyond 40 at one and one-half times their regular hourly rate of pay.
Using the payroll register for Kipley Company, which is reproduced on a fold-out at the back of the book (PR-1), proceed as follows:
1. Enter each employee's time card number and name in the appropriate columns.
2. Record the regular hours and the overtime hours worked for each employee, using the time clerk's report as your reference.
3. Complete the Regular Earnings columns (Rate per Hour and Amount) and the Overtime Earnings columns (Rate per Hour and Amount) for each hourly employee. For salaried workers, complete the Regular Earnings column and show the hourly overtime rate and earnings only if overtime was worked.
4. Record the Total Earnings for each employee by adding the Regular Earnings and the Overtime Earnings. Note: Retain your partially completed payroll register for use at the end of Chapter 3.
Specific type of processed petroleum-cartel firms produce
: Assume that there are 10 firms in the oil industry producing a specific type of processed petroleum. Given the price P, how much will each non-cartel firms produce? i.e. what is (q1 q2 q3 q4)? Using the optimal rule MR=MC, find the optimal quantity p..
|
What is business process management
: Discuss some of the key aspects to developing successful process and systems development projects. Your response should be at least 200 words in length.
|
Jet blue creating a social brand
: Research & Write a 2 to 3 pages of paper answering the following questions on "Jet Blue Creating a Social Brand"-
|
How much profit would each firm earn
: Estimate what would happen to the market price as a result of the supply of both the incumbent firm and the new entrant. Approximately how much profit would each firm earn?
|
Computing wages and salaries and preparing a payroll
: In the Continuing Payroll Problem A, presented at the end of succeeding chapters, you will gain experience in computing wages and salaries and preparing a payroll register for Kipley Company, Inc., a newly formed corporation.
|
Standardized versus localized
: How does the "standardized versus localized" debate apply to advertising? Give examples of major companies that use standardized vs. localized advertisements in the various countries where they are present.
|
Prepare a outline of renaissance movement in art
: Prepare a Outline of Movements in Art of Renaissance Movement. Renaissance was a period of re-birth of knowledge, which was characterized by increased scientific research, art and creativity.
|
Better chance of creating
: Marketing professionals have the answers to questions and will have a much better chance of creating, communicating about, and delivering value-added. Explain this statement in regards to marketing.
|
Products at a local store or mall
: Develop a current marketing concept for each. Focus on creating a benefit statement for the use of their products at a local store or mall.
|