Required information [The following information applies to the questions displayed below.] Greer Utsey earned $48,400 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 Medicare tax State income tax withholding $ 13.49

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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[The following information applies to the questions displayed below.]
Greer Utsey earned $48,400 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
Medicare tax
State income tax withholding
$
13.49
Transcribed Image Text:es ! Required information [The following information applies to the questions displayed below.] Greer Utsey earned $48,400 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 Medicare tax State income tax withholding $ 13.49
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