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Natalie is considering hiring two permanent employees who are paid on an hourly basis plus...

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Accounting

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Natalie is considering hiring two permanent employees who are paid on an hourly basis plus time-and-a-half for all hours worked in excess of 40 hours per week. She is curious as to how this would affect her compamys financial position. She has created some hypothetical payroll data which are presented below. Borke and Clarke are each married and they claim 1 and 2 withholding allowances, respectively. The 7.65\%, FICA tax rate consists of the Social Security tax rate of 6.2% on salaries and wages up to $128,400 and the Medicare tax rate of 1.45% on all salaries and wages Stateincometaces are A4 Prepare a payroll register for the hypothetical weekly payroll. Use the tax withholding table in Illustration 13.8 in the text for federal income tax withholdings. Since both emplovees have exceeded the $7,000 threshold for unemployment, no additional unemployment taxes are to be accrued or paid. (Round answers to 2 decimal places, e.s. 15.25.) Cookie Creations Payroll Register For the Week ending Taxable Earnings Cumulative Earnings Social Security Medicare FICA eTextbook and Media List of Accounts SUPP Deductions eTextbook and Media eTextbook and Media List of Accounts

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