Prepare a schedule showing the employer's total cost of wages for November by function. Wages FICA Taxes Federal U.T. State U.T. Total Cost tA Factory $ $ LA Sales $ $ tA Administrative $ LA $ LA Total
Prepare a schedule showing the employer's total cost of wages for November by function. Wages FICA Taxes Federal U.T. State U.T. Total Cost tA Factory $ $ LA Sales $ $ tA Administrative $ LA $ LA Total
Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter13: Accounting For Payroll And Payroll Taxes
Section13.3: Reporting Withholding And Payroll Taxes
Problem 1WT
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Question
![Prepare a schedule showing the employer's total cost of wages for November by function.
Wages
FICA
Taxes
Federal
U.T.
State
U.T.
Total
Cost
$
tA
$
Factory
$
LA
$
+A
Sales
$
$
Administrative
$
LA
$
CA
Total](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3bcae66a-f265-4775-a305-e5fe053be2d4%2Fcab9f9c3-a5c6-4d05-946a-6f1a62c9851a%2F900caro_processed.png&w=3840&q=75)
Transcribed Image Text:Prepare a schedule showing the employer's total cost of wages for November by function.
Wages
FICA
Taxes
Federal
U.T.
State
U.T.
Total
Cost
$
tA
$
Factory
$
LA
$
+A
Sales
$
$
Administrative
$
LA
$
CA
Total
![Payroll
Factory
Sales
Administrative
Total
Wages Due
$126,000
40,000
38,000
$204,000
FICA
$126,000
40,000
38,000
$204,000
Amount Subject to Payroll Taxes
Unemployment Tax
State
Federal
$43,000
5,000
$48,000
$43,000
5,000
$48,000
At this point in the year, some employees have already received wages in excess of those to which payroll taxes apply. Assume that the
state unemployment tax is 2.5%. The FICA rate is 7.65% on an employee's wages to $142,800 and 1.45% in excess of $142,800. Of the
$204,000 wages subject to FICA tax, $20,000 of the sales wages is in excess of $142,800. Federal unemployment tax rate is 0.8% after
credits. Income tax withheld amounts to $16,300 for factory, $6,900 for sales, and $5,800 for administrative.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3bcae66a-f265-4775-a305-e5fe053be2d4%2Fcab9f9c3-a5c6-4d05-946a-6f1a62c9851a%2F3mmmwi8_processed.png&w=3840&q=75)
Transcribed Image Text:Payroll
Factory
Sales
Administrative
Total
Wages Due
$126,000
40,000
38,000
$204,000
FICA
$126,000
40,000
38,000
$204,000
Amount Subject to Payroll Taxes
Unemployment Tax
State
Federal
$43,000
5,000
$48,000
$43,000
5,000
$48,000
At this point in the year, some employees have already received wages in excess of those to which payroll taxes apply. Assume that the
state unemployment tax is 2.5%. The FICA rate is 7.65% on an employee's wages to $142,800 and 1.45% in excess of $142,800. Of the
$204,000 wages subject to FICA tax, $20,000 of the sales wages is in excess of $142,800. Federal unemployment tax rate is 0.8% after
credits. Income tax withheld amounts to $16,300 for factory, $6,900 for sales, and $5,800 for administrative.
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Follow-up Question
![Factory Payroll:
(To record salaries and wages paid and the employee payroll deductions)
(To record employer payroll taxes)
Sales Payroll:
(To record salaries and wages paid and the employee payroll deductions)
|| |](https://content.bartleby.com/qna-images/question/3bcae66a-f265-4775-a305-e5fe053be2d4/70ef47e4-55c2-4b82-8299-af286385de0b/m6z0a1l_thumbnail.png)
Transcribed Image Text:Factory Payroll:
(To record salaries and wages paid and the employee payroll deductions)
(To record employer payroll taxes)
Sales Payroll:
(To record salaries and wages paid and the employee payroll deductions)
|| |
![Sales Payroll:
(To record salaries and wages paid and the employee payroll deductions)
(To record employer payroll taxes)
Administrative Payroll:
(To record salaries and wages paid and the employee payroll deductions)
(To record employer payroll taxes)
||||
II](https://content.bartleby.com/qna-images/question/3bcae66a-f265-4775-a305-e5fe053be2d4/70ef47e4-55c2-4b82-8299-af286385de0b/ndyiqm_thumbnail.png)
Transcribed Image Text:Sales Payroll:
(To record salaries and wages paid and the employee payroll deductions)
(To record employer payroll taxes)
Administrative Payroll:
(To record salaries and wages paid and the employee payroll deductions)
(To record employer payroll taxes)
||||
II
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