Accounting and Finance Foundations

(Chris Devlin) #1

Unit 8


Accounting and Finance Foundations Unit 8: Payroll 669

Payroll


2.3.220.4.3

20.4.2

Calculating Gross Pay20.4.1


Calculate the gross pay for each employee.

Employee Hours Worked Hourly Wage Gross Pay
1 40 $7.00
2 36 $8.00
3 33 $6.75
4 38 $6.50
5 40 $7.15

Computing Overtime Rate


Calculate the overtime rate for each employee.

Employee Regular Rate Overtime Rate
6 $7.00
7 $6.50
8 $9.75
9 $11.25
10 $12.00

Computing Commission


Compute the monthly commission for each employee.

Employee Monthly Sales Commission Rate Commission Amount

1 $5,000 3%
2 $14,000 6.5%
3 $7,800 8%
4 $22,000 4.25%
5 $75,000 5%

Student Assignment


Chapter 20 20.4 Calculating Pay

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