Waterway Hardware payroll for November 2020 is summarized below. Amount Subject to Payroll Taxes Unemployment Tax Wages Due $120,300 $128,300 34,500 Payroll FICA Federal State Factory $40,600 4.200 $40,600 4.200 Sales 34,500 37,100 $199,900 $199.900 $44,800 Administrative 37,100 Total $44,800 At this point in the year, some employees have already recelved wages in excess of those to which payrolIl 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 $199.900 wages subject to FICA tax, $21,100 of the sales wages is in excess of $120,400. Federal unemployment tax rate is 0.8% after credits. Income tax withheld amounts to $16,300 for factory, $7.200 for sales, and s6,200 for administrative. Prepare a schedule showing the emplover's total cost of wages for November by function. (Round answers to o decimal places, e.g. 5,275,) Factory Sales Administrative Total Salaries and Wages FICA Taxes FUTA Taxes SUTA Taxes Total Cost
Waterway Hardware payroll for November 2020 is summarized below. Amount Subject to Payroll Taxes Unemployment Tax Wages Due $120,300 $128,300 34,500 Payroll FICA Federal State Factory $40,600 4.200 $40,600 4.200 Sales 34,500 37,100 $199,900 $199.900 $44,800 Administrative 37,100 Total $44,800 At this point in the year, some employees have already recelved wages in excess of those to which payrolIl 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 $199.900 wages subject to FICA tax, $21,100 of the sales wages is in excess of $120,400. Federal unemployment tax rate is 0.8% after credits. Income tax withheld amounts to $16,300 for factory, $7.200 for sales, and s6,200 for administrative. Prepare a schedule showing the emplover's total cost of wages for November by function. (Round answers to o decimal places, e.g. 5,275,) Factory Sales Administrative Total Salaries and Wages FICA Taxes FUTA Taxes SUTA Taxes Total Cost
Chapter1: Financial Statements And Business Decisions
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