Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. amount subject to payroll taxes unem tax wages due

Amount Subject to Payroll Taxes Unem Tax Wages Due Payroll Factory Sales Administrative FICA State...

90.2K

Verified Solution

Question

Accounting

imageimageimageimage

Amount Subject to Payroll Taxes Unem Tax Wages Due Payroll Factory Sales Administrative FICA State ASAFederal $40,800 3,900 $40,800 3,900 $129,000 $129,000 33,200 33,200 39,300 39,300 $201,500 $201,500 Total $44,700 $44,700 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 $118,500 and 1.45% in excess of $118,500. Of the $201,500 wages subject to FICA tax, $21,900 of the sales wages is in excess of $118,500. Federal unemployment tax rate is 0.8% after credits. Income tax withheld amounts to $14,700 for factory, $6,900 for sales, and $5,900 for administrative. Prepare a schedule showing the employer's total cost of wages for November by function. (Round answers to O decimal places, e.g. 5,275.) Factory Sales Administrative Total 32000 Salaries and Wages s FICA Taxes FUTA Taxes SUTA Taxes 129000 39300 9869 1182 31 98 14057 357 1020 Total Cost 140215$ 34511s s 42306 217032

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Accounting
1.2K views

Problem 7-16 Comparing Traditional and Activity-Based ProductMargins [LO7-1, LO7-3, LO7-4, LO7-5]Hi-Tek Manufacturing, Inc., makes...Problem...

Basic Math
1.2K views

The boundary of a lamina consists of the semicircles y = 1 − x2 and y = 25 − x2 together...

Psychology
1.2K views

Find a developing nation in which child marriage is common. What is the age of legal...

Physics
1.2K views

4 1 A primitive model for an atom consists of a point nucleus q surrounded...

Basic Math
1.2K views

Customers can pick their own blueberries at Blueberry Hill. They pay $5 toenter the patch...

Basic Math
1.2K views

Among the 30 students registered for a course in discrete mathematics, 15 people know the...

Calculus
1.2K views

A scientist collected two sample sets of snowfall data Which statistic should he use to...

Algebra
1.2K views

Exercises 31 38 Determine if f is a linear or nonlinear function If f is...

Accounting
1.2K views

Brandon, an unmarried individual, has $196,300 taxable income. Assume the taxable year is 2022 ....

Accounting
1.2K views

11.Portfolio Weights If you own 640 shares of Air Line Inc at $42.1, 260 shares...

Accounting
1.2K views

Complete the crossword puzzle that follows ACROSS: 2. Electronic linkage that allows different computers to...

Accounting
1.2K views

Top Company's 2019 sales revenue was $250,000 and 2018 sales revenue was $230,000. Top's total...