Greer Utsey earned $49,100 in 2022 for a company In Kentucky. Greer is single with one dependent under 17 and is paid weekly. The FUTA rate in Kentucky for 2022 is 0.6 percent on the first $7,000 of employee wages, and the SUTA rate is 5.4 percent with a wage base of $11,100. Use the percentage method in Appendix C and the state Information in Appendix D. Manual payroll system is used and Box 2 is not checked. equired: ompute the following employee share of the taxes for the third weekly payroll of the year. ote: Do not round Intermediate calculation. Round your final answers to 2 decimal places.
Greer Utsey earned $49,100 in 2022 for a company In Kentucky. Greer is single with one dependent under 17 and is paid weekly. The FUTA rate in Kentucky for 2022 is 0.6 percent on the first $7,000 of employee wages, and the SUTA rate is 5.4 percent with a wage base of $11,100. Use the percentage method in Appendix C and the state Information in Appendix D. Manual payroll system is used and Box 2 is not checked. equired: ompute the following employee share of the taxes for the third weekly payroll of the year. ote: Do not round Intermediate calculation. Round your final answers to 2 decimal places.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Greer Utsey earned $49,100 in 2022 for a company in Kentucky. Greer is single with one dependent under 17 and is paid
weekly. The FUTA rate in Kentucky for 2022 Is 0.6 percent on the first $7,000 of employee wages, and the SUTA rate is
5.4 percent with a wage base of $11,100. Use the percentage method in Appendix C and the state information in
Appendix D. Manual payroll system is used and Box 2 is not checked.
Required:
Compute the following employee share of the taxes for the third weekly payroll of the year.
Note: Do not round Intermediate calculation. Round your final answers to 2 decimal places.
Federal income tax withholding
Social Security tax
5
58.54
Medicare tax
$
13.69
State income tax withholding
$
47.21
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