No. 5(a) (i): The gross pay for Mark is calculated as follows:
Mark’s gross pay = 27 hours x $30 = $810.
No. 5(a) (ii): The gross pay for John is calculated as follows:
John’s gross pay = 40 hours x $30 = $1,200 (basic hours)
= 6 hours x 1.5($30) = $270 (overtime hours)
Total gross pay for John = $1,200 + $270 = $1,470.
No. 5(b): Below is the completed payroll form for Mark and John using the format specified:
No. 5(c): One difference between ‘statutory deductions’ and ‘voluntary deductions’ is:
Statutory deductions are mandated by law therefore an employer is obligated to deduct it from an employee’s salary. Voluntary deductions on the other hand are not mandated by law and is usually based on the request or approval of an employee.
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The author holds a Bsc (Hons) Degree in Applied Accounting from Oxford Brookes University, England and enjoys a successful career as an Accounting Supervisor and a private tutor.