1Running Head: Payroll Accounting 2017Payroll Accounting 2017Student name:Institutional affiliation:2Payroll Accounting 2017Payroll Accounting 2017PART 1The table below shows a complete payroll table for the period between 1st October and 15thOctober:Last NameChinsonWaylandPeppinicoVardenHissopSuccessHourly rates$11.53846$36.05769$20.91346$20.19231$23.79808$17.30769pay period hours 10/1-10/15 RegularOvertime Commision80 (exempt)$1,000.000$1,50080 (exempt)$3,125.000080 (exempt)$1,812.500088 hours$1,776.92 $242.31085.25 hours$2,028.79 $187.41082 hours$1,419.23$51.920Hourly ratesFor all the employees, the hourly rates are calculated by dividing the employees annual pay by thenumber of working hours in a year. It is assumed that a working day is 8 hours. 1 year= (52 x 5 x8) = 2080 hours. Therefore:Chinson hourly rates = $24000/2080 hours= $11.53846 per hourWayland hourly rates= $75000/2080 hours = $36.05769 per hourPeppinico hourly rates= $43500/ 2080 hours= $20.91346 per hourVarden hourly rates = $42000/2080 hours = $20.91346 per hourHissop hourly rates = $49500/2080 hours= $23.79808 per hourSuccess hourly rates= $36000/2080 hours = $17.30769 per hour3Payroll Accounting 2017Regular payThe regular pay for every employee is calculated depending on whether the employee is exemptedor not. For exempt employees:Chinson regular pay= annual salary/ number of bimonthly payments= $24000/24= $1000Wayland regular ...
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