Westway Company pays Suzie Chan $3,150 per week. Assume Social Security is 6.2% on $128,400 and 1.45% for Medicare. a. By the end of week 52, how much did Westway deduct for Suzie's Social Security and Medicare for the year? (Round your answers to the nearest cent.) Deductions Social Security Medicare b. What state and federal unemployment taxes does Westway pay on Suzie's yearly salary? The state unemployment rate is 5.1% and the federal unemployment tax is 0.6% on the first $7,000. (Enter your answers as whole numbers.) Payment State unemployment taxes Federal unemployment taxes < Prev 12 of 16 Next

Westway Company pays Suzie Chan $3,150 per week. Assume Social Security is 6.2% on $128,400 and 1.45% for Medicare. a. By the end of week 52, how much did Westway deduct for Suzie's Social Security and Medicare for the year? (Round your answers to the nearest cent.) Deductions Social Security Medicare b. What state and federal unemployment taxes does Westway pay on Suzie's yearly salary? The state unemployment rate is 5.1% and the federal unemployment tax is 0.6% on the first $7,000. (Enter your answers as whole numbers.) Payment State unemployment taxes Federal unemployment taxes < Prev 12 of 16 Next

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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Similar questions

Westway Company pays Suzie Chan $3,020 per week. Assume Social Security is 6.2% on $142, 800 and 1.45% for Medicare. By the end of week 52, how much did Westway deduct for Suzie's Social Security and Medicare for the year? What state and federal unemployment taxes does Westway pay on Suzie's yearly salary? The state unemployment rate is 5.1% and the federal unemployment tax is 0.6% on the first $7,000.
help please
Dave Brown's cumulative earnings are $127,200 , and his gross pay for the week is $5,300 . If the FICA rates are: Social Security 6.2% and Medicare is 1.45% , what are his FICA-OASDI and FICA-Medicare taxes for the week? Assume the Social Security threshhold is $128,400. it is multilple choices question. the choices are: A)$74.40;$17.40 B)$0;$76.85 C)74.40;76.85 D)$328.60;76.85
Pat Maninen earns a gross salary of $4100 each week. Assume a rate of 6.2% on $n8.500 for Social Security and 1.45% for Medicare a. What are Pat's first week's deductions for Social Security and Medicare? (Round your snowers to the nearest cent) Deductions Social security Medicare 59 45 b. Will any of Pat's wages be exempt from Social Security and Medicare for the calendar year? (Leave no cells blenk - be certain to enter "O" wherever required.) Exempt Non exempt Social security %24 Medicare
What will be the total deduction for social security and Medicare taxes on Rony's next semimonthly paycheck of $3,760.00, if she has already earned $46,560.00 this year? (Social security tax is 6.2% of gross wages up to $128,400. Medicare tax is 1.45% of all gross wages.) a. $249.39 b. $257.04 c. $272.34 d. $287.64
T3.
Assume a tax rate of 6.2% on $142,800 for Social Security and 1.45% for Medicare. No one will reach the maximum for FICA. Complete the following payroll register. (Use the percentage method to calculate FIT for this weekly period.) (Use Table 9.1). Note: Do not round intermediate calculations and round your final answers to the nearest cent. Employee Pat Brown Marital status S Gross pay $ 3,300 FIT Social Security FICA Medicare Net pay
What will be the total deduction for social security and Medicare taxes on Rony's next semimonthly paycheck of $3,360.00, if she has already earned $48,560.00 this year? (Social security tax is 6.2% of gross wages up to $128,400. Medicare tax is 1.45% of all gross wages.) O $218.79 O $226.44 O$241.74 $257.04
Pat Maninen earns a gross salary of $4,600 each week. Assume a rate of 6.2% on $128,400 for Social Security and 1.45% for Medicare.a. What are Pat’s first week’s deductions for Social Security and Medicare? Will any of Pat’s wages be exempt from Social Security and Medicare for the calendar year?
Assume a tax rate of 6.2% on $118,500 for Social Security and 1.45% for Medicare. No one will reach the maximum for FICA. Complete the following payroll register. (Use the percentage method to calculate FIT for this weekly period.) (Use Table 7.1 and Table 7.2). (Do not round intermediate calculations and round your final answers to the nearest cent.) Employee Marital status Sam Rouche M Allowances claimed Gross pay 5 $ 3,400 FIT S.S. FICA Med. Net pay
nit.4
Matty Kim, an accountant for Vernitron, earned $111,000 from January to June. In July, Matty earned $20,000. Assume a tax rate of 6.2% for Social Security on $118,500 and 1.45% on Medicare. How much are the July taxes for Social Security and Medicare?