Managers are paid a weekly salary, while servers are paid an hourly wage. In addition to employee compensation, the employer is responsible for payroll tax equal to 7.5% of compensation. Complete the following table to calculate the weekly compensation and payroll tax paid by the employer. Remember that servers work 10 hours per week. Employee Type Quantity Manager Server 2 15 Wage $580/week $10/hour Total $ 1160 $ 1500 $ 2660 Compensation Payroll Tax @ 7.5% $ 84.00 112.50 196.50

Managers are paid a weekly salary, while servers are paid an hourly wage. In addition to employee compensation, the employer is responsible for payroll tax equal to 7.5% of compensation. Complete the following table to calculate the weekly compensation and payroll tax paid by the employer. Remember that servers work 10 hours per week. Employee Type Quantity Manager Server 2 15 Wage $580/week $10/hour Total $ 1160 $ 1500 $ 2660 Compensation Payroll Tax @ 7.5% $ 84.00 112.50 196.50

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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