archBlue Hardware payroll for November 2020 is summarized below.FactorySalesPayrollFAdministrativeRTotal(a)ACC341-2022-Ho...xlsx%Wages DueTG$121,10035,100$195,60039,400^:Q+O H6YHFICA$121,100At this point in the year, some employees have already received wages in excess of those to which payroll taxes apply. Assume that thestate unemployment tax is 2.5%. The FICA rate is 7.65% on an employee's wages to $128,400 and 1.45% in excess of $128,400. Of the$195,600 wages subject to FICA tax, $19,700 of the sales wages is in excess of $128,400. Federal unemployment tax rate is 0.8% aftercredits. Income tax withheld amounts to $15,400 for factory, $6,600 for sales, and $5,500 for administrative.135,10039,400$195,600. music 2.jpeg&7KAmount Subject to Payroll TaxesUnemployment TaxJ8FederalBN M$39,800O3,600$43,400StateKPa O W(9$39,800$43,4003,600F11)OL2888F12PHome?End+Insert}Rain off and on]DeleteBackspac arch(a)Prepare a schedule showing the employer's total cost of wages for November by function. (Round answers to 0 decimal places, e.g.5,275.)SalariesandWagesFICATaxesFUTATaxesRSUTATaxesTotalCost%$ACC341-2022-Ho....xlsx ^5$TGFactoryBO At G+music 2.jpeg6H&7U$JHO*8N MSalesPS 9(9KF11)L$888AdministrativeF12PHomeEnd?$Insert}Rain off and onTotal]^ ODeleteBackspacePollo

See the attachment below for answer 1)Answer 1) Prepare a schedule showing the employer’s total…

Prepare a schedule showing the employer's total cost of wages for November by function. (Round answers to O decimal places, e.g. 5,275.) Salaries and Wages FICA Taxes FUTA Taxes SUTA Taxes Total Cost +A $ $ ACC341-2022-Ho...xlsx Factory ^ music 2.jpeg $ LA $ Sales $ Administrative H $ Total

Prepare a schedule showing the employer's total cost of wages for November by function. (Round answers to O decimal places, e.g. 5,275.) Salaries and Wages FICA Taxes FUTA Taxes SUTA Taxes Total Cost +A $ $ ACC341-2022-Ho...xlsx Factory ^ music 2.jpeg $ LA $ Sales $ Administrative H $ Total

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: Prepare Journal entries to record transactions a through n. a. Raw materials purchased on credi,…

A: The direct costs incurred are debited to work in process account. The indirect costs are debited to…

Q: %24 %24 Perez Company reported the following operating results for two consecutive years: Required…

A: Comparative balance sheet used to compare the financial statement of two or more periods. It is…

Q: What is the order of calculation on Quarter-hour method & Hundreth-hour method? For example: IN…

A: For Payroll Accounting : There are 2 types of calculating. (1) Quarter-hour Method : (a) In this…

Q: DATE DESCRIPTION POST. REF. DEBIT CREDIT 20-- Oct. 23 Administrative Salaries 51 2,307.69…

A: Payroll taxes refer to those taxes paid by both employer and employee in order to fund the employee…

Q: Requirement 3. Prepare journal entries to record the transfer of completed jobs from…

A: Given : JobNo. Date Total Cost of Jobat October 31 Total Manufacturing CostsAdded in…

Q: Question 3 6 p An employee has total gross wages of $7,000, federal withholding of 15% and state…

A: Payroll taxes generally includes the FICA Tax as well as withholding tax which will be levied on the…

Q: Which entity is most likely to be part of both the payroll cycle Pand the expenditure cycle اختواحد…

A: Cash disbursement represents the distribution of cash from one party to another. It is the cash…

Q: K. Mello Company has three employees-a consultant, a computer programmer, and an administrator. The…

A: Payroll taxes refer to those taxes paid by both employer and employee in order to fund the employee…

Q: Department Payroll Factory Sales Office Total Wages $77000 23000 $22430. 17000 O $8430. O $14830. O…

A: Payroll taxes refer to those taxes paid by both employer and employee in order to fund the employee…

Q: D. JUuTIan2c tie Ch C. Journalize the entry to record the payment of the payroll. Obj. 2 EX 10-11…

A: Calculation of payroll tax Particulars Amount Social security tax (110000*6%) 6600 Medicare…

Q: eBook Window Help v2.cengagenow.com Feedback CengageNOWV2 | Online teaching and learning resource…

A: Payroll: It implies to the compensation that is paid by the business to it's employees for a…

Q: not use ai please don't

A: Step 1: Compute the total amount of salary expense.$2,600 + $2,400 + $1,800 + $2,000 = $8,800 Step…

Q: Carlberg Company has two manufacturing departments, Assembly and Painting. The Assembly department…

A: Equivalent units of production = Units completed and transferred out + Units in ending WIP *…

Q: Employee Filing Status No. of Withholding Allowances Gross Wage or Salary Percentage Method…

A: Solution A Wage is compensation paid to employees for work for a company during a period of time.

Q: Department Payroll Factory Sales Total Wages $77000 23000 Federal Income Tax Withheld $8000 4000…

A: The payroll taxes are the taxes that employers deduct from the salary of employees and deposit the…

Q: Regirock Incorporated a manufacturer of gravel and sand, has provided the following data for the…

A: When calculating cost of goods manufactured we used applied overhead as cost of actual overhead is…

Q: to e un for at se en food and was a tea

A: Payroll taxes are mandatory contributions levied on employers and employees based on wages or…

Q: Your boss approaches you in mid-December and requests that you pay certain employees their gross pay…

Q: calculating commissions The M7H pays its employees an hourly wage plus commision of 7% of their…

A: Total wages is calculated by multiplying wage rate into hours worked and add commission to calculate…

Q: TASK: Using the pay statement example, provide the missing information below: Pay period for this…

A: Payroll The Payroll is considered to be one of the important function to pay to the employees for…

Q: REGISTER - PANCAKES UNLIMITED FICA Taxable Earnings Deductions Previous Earnings Cumulative for…

A: State income tax withholding is also calculated on a similar fashion but is dependent on the…

Q: Reviewing payroll records indicates that employee salaries that are due to be paid on January 3…

A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…

Q: JOURNAL Page 43 DATE DESCRIPTION POST. REF. DEBIT CREDIT 20-- Nov. 6…

A: In the context of the given question, we should answer the questions asked from the journal entries.…

Q: Delph Company uses a job-order costing system and has two manufacturing departments-Molding and…

A: Cost of Goods Sold = Opening Inventory + Direct Material + Direct Labour + Manufacturing Overhead -…

Concept explainers

Payroll Entries

Payroll is a comprehensive record of employees that are paid by the company. Payroll classifies employees into various categories according to their function and pays scale (basic wage, allowance, income tax, other taxes, employee loans, etc.). Payroll processes form the bedrock of every organization as it contains sensitive information on the ‘wage and paycheck’ portion of the company’s strength—its employees. The organization needs to keep a track of the employees currently on the payroll, the net payout for the company, the record of transactions related to the employees including deductions and payroll taxes to identify the liability and its effect on the balance sheet (and other financial statements). Payroll records also include qualitative factors such as the conduct of the employee.

Question

arch
Blue Hardware payroll for November 2020 is summarized below.
Factory
Sales
Payroll
F
Administrative
R
Total
(a)
ACC341-2022-Ho...xlsx
%
Wages Due
T
G
$121,100
35,100
$195,600
39,400
^
:Q+
O H
6
Y
H
FICA
$121,100
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 $128,400 and 1.45% in excess of $128,400. Of the
$195,600 wages subject to FICA tax, $19,700 of the sales wages is in excess of $128,400. Federal unemployment tax rate is 0.8% after
credits. Income tax withheld amounts to $15,400 for factory, $6,600 for sales, and $5,500 for administrative.
1
35,100
39,400
$195,600
. music 2.jpeg
&
7
K
Amount Subject to Payroll Taxes
Unemployment Tax
J
8
Federal
BN M
$39,800
O
3,600
$43,400
State
K
Pa O W
(
9
$39,800
$43,400
3,600
F11
)
O
L
2
888
F12
P
Home
?
End
+
Insert
}
Rain off and on
]
Delete
Backspac

arch
(a)
Prepare a schedule showing the employer's total cost of wages for November by function. (Round answers to 0 decimal places, e.g.
5,275.)
Salaries
and
Wages
FICA
Taxes
FUTA
Taxes
R
SUTA
Taxes
Total
Cost
%
$
ACC341-2022-Ho....xlsx ^
5
$
T
G
Factory
B
O At G
+
music 2.jpeg
6
H
&
7
U
$
J
HO
*
8
N M
Sales
PS 9
(
9
K
F11
)
L
$
888
Administrative
F12
P
Home
End
?
$
Insert
}
Rain off and on
Total
]
^ O
Delete
Backspace
Pollo

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2: Continue answer

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps with 2 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

Assignments: ACTO-100-0H-Accounting Procedures-CRN 55-460 mapter 10-11) Question 12-Exam Two Chapter 10- The payroll register of the Fox Manufacturing Company showed total employee earnings of $30,000 for the week ended April 19, 20X1. Compute each of the employer's payroll taxes for the period. Use a rate of 6.2 percent for the employer's share of the social security tax, 1.45 percent for Medicare tax, 0.6 percent for FUTA tax, and 5.4 percent for SUTA tax. Assume all earnings are taxable Social security tax Medicare tax FUTA SUTA Help
Need help with this one question please.
Please do not give solution in image format thanku
Question 7. Part 4. Please fill in the blanks in the same format as the question
Compute commission and gross pay
A5
156 Principles of Cost Accounting Journal entries for payroll A partial summary of the payroll data for Burrington Manufactur- ing Company for each week of June is as follows: ЕЗ-5 LO2 LO3 June 7 June 14 June 21 June 28 Gross earnings . $ 36,500 $ 34,200 $ 37,300 $ 38,400 Deductions: FICA tax, 8% $? $? $? $? Tax-sheltered annuity. 1,825 1,780 1,855 1,870 Income tax 4,215 4,120 4,320 4,410 Health insurance 600 600 600 600 Total deductions $? $? $? $? Net earnings $? $? $? $? a. Compute the missing amounts in the summary, assuming that no employees have reached the $100,000 FICA maximum. b. For each payroll period, prepare journal entries to (1) record the payroll and (2) record the payments to employees.
1. The following information was reported for Gray Enterprises on December 31, 2020.Manufacturing Overhead Debit Credit 3,410 51,520 15,030 37,090 Double line4,010 Double line A. What is the actual manufacturing overhead? B. What is the allocated manufacturing overhead? C. Is manufacturing overhead underallocated or overallocated? D. Prepare the adjusting entry.Journal Date Description Debit Credit Dec. 31, 20 Dec. 31, 20 2. The following information was reported for Gray Enterprises on December 31, 2021.Manufacturing Overhead Debit Credit 2,020 56,340 15,540 31,920 Double line Double line6,860 A. What is the actual manufacturing overhead? B. What is the allocated manufacturing overhead? C. Is manufacturing overhead underallocated or overallocated? D. Prepare the adjusting entry.Journal Date Description Debit Credit Dec. 31, 20 Dec. 31, 20
P3-10 Summary of payroll procedures Megerle Custom Cabinet Co. uses the job order cost system. In recording payroll transactions, the following accounts are used: Cash Wages Payable FICA Tax Payable Federal Unemployment Tax Payable State Unemployment Tax Payable Employees Income Tax Payable Payroll Administrative Salaries Miscellaneous Administrative Expense Sales Salaries Miscellaneous Selling Expense Factory Overhead Work in Process Factory employees are paid weekly, while all other employees are paid semimonthly on the fifteenth and the last day of each month. All salaries and wages are subject to all taxes. The income tax withheld amounts to 10% of gross wages. Following is a narrative of transactions completed during January: Jan.7 Recorded total earnings of factory employees amounting to $68,200, less deductions for employees’ income taxes and FICA taxes. 7 Issued check for payment of the payroll. 14 Recorded total earnings of factory employees amounting to $66,300, less…
CengageNOWv21Online teachin X ilm/takeAssignment/takeAssignmentMain.do?invoker-assignments&takeAssignmentSessionLocator=assignment-take&inprogress-false Calculate Payroll K. Mello Company has three employees-a consultant, a computer programmer, and an administrator. The following payroll information is available for each employee: Administrator Computer Programmer Consultant $50 per hour $36 per hour $2,510 per week Regular earnings rate 1.5 times hourly rate 2 times hourly rate Not applicable Overtime earnings rate $500 $253 $930 Federal income tax withheld For hourly employees, overtime is paid for hours worked in excess of 40 hours per week. For the current pay period, the computer programmer worked 52 hours and the administrator worked 61 hours. Assume further that the social security tax rate was 6%, and the Medicare tax rate was 1.5 %. Determine the gross pay and the net pay for each of the three employees for the current pay period. Assume the normal working hours in a week are…
S eBook Ask Print eferences Mc Graw Hill :: -WKCTC_....txt FI 2 W S KMH Industries is a monthly schedule depositor of payroll taxes. For the month of August 2021, the payroll taxes (employee and employer share combined) were as follows: X Social Security tax: $5,056.78 Medicare tax: $1,182.63 Employee Federal income tax: $3,960.00 Required: Create the General Journal entry for the remittance of the taxes. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to 2 decimal places.) View transaction list A Journal entry worksheet 4² Record the remittance of August payroll taxes. Note: Enter debits before credits. # 3 1 E D Data C 8.0 F3 $ 4 JUL 22 R F a F4 V General Inurnal % 5 T F5 G 8 DII FB M 1 ( 9 K ران DD F9 O ) O A F10 L P Ⓡ command C F11 - 9 F12 option
Hello, can you help me with this question? Amount to BeWithheld Employee FilingStatus No. of WithholdingAllowances Gross Wageor Salary PercentageMethod Wage-BracketMethod Lennon, A. MFJ N/A $675 weekly $fill in the blank 1 $fill in the blank 2 Starr, P. MFJ N/A 1,929 weekly fill in the blank 3 fill in the blank 4 McNeil, S. S N/A 1,775 biweekly fill in the blank 5 fill in the blank 6 Harrison, W. HH N/A 2,580 semimonthly fill in the blank 7 fill in the blank 8 Smythe, M. HH N/A 5,380 monthly fill in the blank 9 fill in the blank 10