Processing Payroll Review. Lesson 12-1 Calculate regular hours. 1 1 Calculate overtime hours. 2 2 Calculate total hours. 3 3.

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Presentation transcript:

Processing Payroll Review

Lesson 12-1 Calculate regular hours. 1 1 Calculate overtime hours. 2 2 Calculate total hours. 3 3

Lesson Calculate regular earnings 2 2 Calculate the overtime rate 3 3 Calculate overtime earnings 4 4 Calculate total earnings Regular Hours×Regular Rate=Regular Earnings 88×$15.00=$1, Regular Rate×1½=Overtime Rate $15.00×1½=$22.50 Overtime Hours×Overtime Rate=Overtime Earnings 6.5×$22.50=$ Regular Earnings×Overtime Earnings =Total Earnings $1,320.00×$146.25=$1,466.25

Lesson 12-2 Select the appropriate table 1 1 Locate employee’s total earnings 2 2 Intersection of earnings and withholding allowances 3 3

Lesson 12-3 Pay Period Date 1 1 Social Security Tax 6 6 Medicare Tax 7 7 Health Insurance 8 8 Retirement Plan 9 9 Payment Date 2 2 Employee Personal Data 3 3 Federal Income Tax 5 5 Total, Prove, and Rule 12 Net Pay 11 Total Deductions 10 Check Number 13 Earnings 4 4

Lesson 12-3 Beginning Accumulated Earnings Last Day of Quarter 4 4 Pay Period 2 2 Employee Personal Data 7 7 Total and Prove (If it is the end of the quarter.) 5 5 Earnings, Deductions, Net Pay 6 6 Updated Accumulated Earnings (Add new total earnings to the previous accumulated earnings amount.)

Lesson Prepare the check stub Prepare the check from the information on the check stub. Date Description Amount Payee

Lesson