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13-7 Please help me answer attached question. Thank you! Sandhill Hardware Company's payroll for November 2017 is summarized below. Amount Subject to Payroll Taxes Payroll
13-7 Please help me answer attached question. Thank you!
Sandhill Hardware Company's payroll for November 2017 is summarized below. Amount Subject to Payroll Taxes Payroll Factory Sales Administrativ e Total Wages FICA Due $121,300 $121,300 30,600 30,600 37,600 Unemployment Tax Federa State l $41,100 $41,100 3,800 3,800 37,600 $189,500 $189,500 $44,900 $44,900 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 $189,500 wages subject to FICA tax, $19,000 of the sales wages is in excess of $118,500. Federal unemployment tax rate is 0.8% after credits. Income tax withheld amounts to $15,500 for factory, $7,600 for sales, and $6,700 for administrative. Don't show me this message again for the assignment *(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.) Factory Administrativ e Sales $ $ $ $ Salaries and Wages $ Total $ FICA Taxes FUTA Taxes SUTA Taxes Total Cost $ $Step by Step Solution
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