The employees collectively earn a gross wage of $85,000 for the pay period. But the employer says that they cost $92,000. Discuss the discrepancy.
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The employees collectively earn a gross wage of $85,000 for the pay period. But the employer says that they cost $92,000. Discuss the discrepancy.
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- ! Required information [The following information applies to the questions displayed below.] Greer Utsey earned $49,200 in 2023 for a company in Kentucky. Greer is single with one dependent under 17 and is paid weekly. The FUTA rate in Kentucky for 2023 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 withholdingCan you please help by explaining this problem? You do not have to give the answer to this one. I just need an example explaining how to work a problem like this one. Employee and employer OASDI: 6.2% Employer and Employee HI: 1.45% Employee HI: plus an additional 0.9% on wages over @200,000. Also allpicable for self-employed. minimum hourly wage of $7.25 Crow earned $585.15 during the week ended Mar. 1, 20--. Prior to payday, Crow had cumulative gross earnings of $4,733.20. round your answers to the nearest cent. a. The amount of OASDI taxed to withhold from Crow's pay is $ b. THe amount of HI taxes to withhold from Crow's pay is $! 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 employer's share of the taxes for the third weekly payroll of the year. Note: Do not round intermediate calculation. Round your final answer to 2 decimal places. Answer is complete but not entirely correct. S S Federal income tax withholding Social Security tax Medicare tax FUTA tax SUTA tax State income tax withholding 60 S S GA 60 $ SA 930.77 57.68 X 13.49 5.58 50.22 X 187.52 X
- chAssume that the MUST Co. pays a weekly payroll. Using the portion of the Wage Bracket Withholding Table given, what would be the amount of federal income tax to withhold for this pay period for a single employee whose gross earning is $2,250 and who counted 2 withholding allowance? Table for Percentage Method of Withholding WEEKLY Payroll Period SINGLE person(including head of household)-- Assume the deduction for each withholding allowance is $75. If the amount of wages (after subtracting withholding allowances) is: The amount of income tax to withhold is $0 Not over $43. . . ver--- But not over-- of excess over-- $43 --$222 | $ 0.00 plus 10% ---$43 $222 ---$767 $17.90 plus 15% --$222 $767 --$1,796| $99.65 plus 25% ---$767 $1,796 --$3,700 $356.90 plus 28% ---$1,796 $3,700 ---87,992 | $890.12 plus 33% --S3,700 $7,992 ---$8,025 | $2,306.38 plus 35% ---$7,992 $8,025 $2,317.93 plus 39.6% ---$8,025 $356.90 $442.02 $484.02 $630.00Karlson Software Company is located in State H, which enables employers to reduce their contribution rates under the experience-rating system. From 2007 to 2016, inclusive, the company's total contributions to state unemployment compensation amounted to $14,695. For the calendar years 2017 to 2020, inclusive, the contribution rate for Karlson was 2.7%. The contributions of each employer are credited to an account maintained by the State Unemployment Compensation Commission. This account is credited with contributions paid into the account by the employer and is charged with unemployment benefits that are paid from the account. Starting January 1, 2021, the contributions rate for all employers in State H will be based on the following tax rate schedule: Reserve Ratio Contribution Rate Contributions falling below benefits paid 7.0% 0.0% to 7.9% 5.5% 8.0% to 9.9% 4.5% 10.0% to 11.9% 3.5% 12.0% to 14.9% 2.5% 15.0% or more 1.5% The annual payroll for calculation purposes…
- QUESTION 7)A) If the subcontractor employee Nazan, who is free to choose the working period, works 55 hours a week at an hourly wage and maximizes her benefit by earning an income of 1.000 TL per week, show this situation on the figure.B) Suppose that the government employs subcontractor employees, and those who previously worked on an hourly rate depending on the subcontractor now have to work 40 hours, which is a legal working time, for a fixed salary of 1000 TL per week. How to maximize the benefit of Mrs. Nazan in the new situation, add the new situation to the chart in (a) and show it on the same chart. Has the new situation increased or decreased the benefit of Mrs. Nazan?am. 105.Subject - account Please help me. Thankyou.
- Please Do not Give image format and Complete all required7. Since an employee works 43 hours in a regular week of 40, with an hourly wage of S 10 and receives double pay for hours worked in excess of 40, determines: 7.1 Gross income 7.2 7% income tax 6.20% contribution to Social Security 7.3 7.4 1.45% contribution to health care 7.5 Net income For this same situation, determine the employer's payroll contribution 7.6 6.20% contribution to Social Security 7.7 1.45% contribution to health care 4.40% state unemployment 7.8 7.9 0.60% federal unemployment 7.10 0.60% Temporary disability insurance Total employer contribution 7.11Artman Automotive in Nova Scotia employs four people. Their annual gross earnings are $40,800.00, $52,600.00, $65,700.00, and $68,900.00. The organization has a workers' compensation premium rate of $3.41 per $100.00 of assessable payroll. The maximum assessable earnings for Nova Scotia for 2021 are $64,500.00. Calculate the total annual assessment for Artman Automotive
