archBlue Hardware payroll for November 2020 is summarized below.FactorySalesPayrollFAdministrativeRTotal(a)ACC341-2022-Ho...xlsx%Wages DueTG$121,10035,100$195,60039,400^:Q+O H6YHFICA$121,100At this point in the year, some employees have already received wages in excess of those to which payroll taxes apply. Assume that thestate 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$195,600 wages subject to FICA tax, $19,700 of the sales wages is in excess of $128,400. Federal unemployment tax rate is 0.8% aftercredits. Income tax withheld amounts to $15,400 for factory, $6,600 for sales, and $5,500 for administrative.135,10039,400$195,600. music 2.jpeg&7KAmount Subject to Payroll TaxesUnemployment TaxJ8FederalBN M$39,800O3,600$43,400StateKPa O W(9$39,800$43,4003,600F11)OL2888F12PHome?End+Insert}Rain off and on]DeleteBackspac arch(a)Prepare a schedule showing the employer's total cost of wages for November by function. (Round answers to 0 decimal places, e.g.5,275.)SalariesandWagesFICATaxesFUTATaxesRSUTATaxesTotalCost%$ACC341-2022-Ho....xlsx ^5$TGFactoryBO At G+music 2.jpeg6H&7U$JHO*8N MSalesPS 9(9KF11)L$888AdministrativeF12PHomeEnd?$Insert}Rain off and onTotal]^ ODeleteBackspacePollo

See the attachment below for answer 1)Answer 1) Prepare a schedule showing the employer’s total…

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.) Salaries and Wages FICA Taxes FUTA Taxes SUTA Taxes Total Cost +A $ $ ACC341-2022-Ho...xlsx Factory ^ music 2.jpeg $ LA $ Sales $ Administrative H $ Total

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.) Salaries and Wages FICA Taxes FUTA Taxes SUTA Taxes Total Cost +A $ $ ACC341-2022-Ho...xlsx Factory ^ music 2.jpeg $ LA $ Sales $ Administrative H $ Total

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)

22nd Edition

ISBN:9781305666160

Author:James A. Heintz, Robert W. Parry

Publisher:James A. Heintz, Robert W. Parry

Chapter9: Payroll Accounting: Employer Taxes And Reports

Section: Chapter Questions

Problem 9SPB

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Workers' Compensation Insurance and Adjustment Specialty Manufacturing estimated that its total payroll for the coming year would be $447,500. The workers' compensation insurance premium rate is 0.2%. Required: 1. Calculate the estimated workers' compensation insurance premium.$ Prepare the journal entry for the payment as of January 2, 20--. Page: DATE ACCOUNT TITLE DOC. NO. POST. REF. DEBIT CREDIT 1 20--Jan. 2 1 2 2 3 3 2. Assume that Specialty Manufacturing's actual payroll for the year is $452,500.00. Calculate the total insurance premium owed.$ Prepare a journal entry as of December 31, 20--, to record the adjustment for the underpayment. The actual payment of the additional premium will take place in January of the next year. Page: DATE ACCOUNT TITLE DOC. NO. POST. REF. DEBIT CREDIT 1 20--Dec. 31 1 2 2 3 3
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Willamette Manufacturing estimated that its total payroll for the coming year would be $670,000. The workers' compensation insurance premium rate is 0.3%. Required: 1. Calculate the estimated workers' compensation insurance premium.$ Prepare the journal entry for the payment as of January 2, 20--. Page: DATE ACCOUNT TITLE DOC. NO. POST. REF. DEBIT CREDIT 1 20--Jan. 2 1 2 2 3 Paid estimated workers' compensation insurance premium 3 2. Assume that Willamette Manufacturing's actual payroll for the year was $694,000. Calculate the total insurance premium owed.$ Prepare a journal entry as of December 31, 20--, to record the adjustment for the underpayment. The actual payment of the additional premium will take place in January of the next year. Page: DATE ACCOUNT TITLE DOC. NO. POST. REF. DEBIT CREDIT 1 20--Dec. 31 1 2 2 3 Adjustment for insurance premium…
The totals from the first payroll of the year are shown below. TotalEarnings FICAOASDI FICAHI FITW/H StateTax UnionDues NetPay $36,195.10 $2,244.10 $524.83 $6,515.00 $361.95 $500.00 $26,049.22 Journalize the entry to record the employer's payroll taxes (assume a SUTA rate of 3.7%).
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Cullumber Hardware payroll for November 2020 is summarized below. Amount Subject to Payroll Taxes Unemployment Tax Payroll Wages Due FICA Federal State Factory $126,600 $126,600 $40,500 $40,500 Sales 28,800 28,800 4,200 4,200 Administrative 38,900 38,900 Total $194,300 $194,300 $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 $128,400 and 1.45% in excess of $128,400. Of the $194,300 wages subject to FICA tax, $21,300 of the sales wages is in excess of $128,400. Federal unemployment tax rate is 0.8% after credits. Income tax withheld amounts to $16,800 for factory, $7,700 for sales, and $6,800 for administrative. (a) Partially correct answer icon Your answer is partially correct.…
Carla Vista Company has the following data for the weekly payroll ending May 31: Hours Worked Employee M Tu W Th F S HourlyRate CPPDeduction Income TaxWithheld HealthInsurance A. Kassam 12 7 8 7 7 5 $16 $35.48 $93.70 $8 H. Faas 9 9 8 8 8 6 11 24.98 72.15 15 G. Labute 12 9 6 10 10 0 16 36.66 108.65 12 Employees are paid 1.5 times the regular hourly rate for all hours worked over 40 hours per week. Carla Vista Company must make payments to the workers’ compensation plan equal to 2% of the gross payroll. In addition, Carla Vista matches the employees’ health insurance contributions and accrues vacation pay at a rate of 4%. Prepare the payroll register for the weekly payroll. Calculate each employee’s EI deduction at a rate of 1.66% of gross pay Record the payroll and Carla Vista Company’s employee benefits
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