Answered step by step
Verified Expert Solution
Question
1 Approved Answer
acct 2 1 0 1 : Required information Exercise 9 - 1 3 A ( Static ) Computation of net pay and payroll expense LO
acct : Required information
Exercise A Static Computation of net pay and payroll expense LO
Skip to question
The following information applies to the questions displayed below.
The following information is available for the employees of Webber Packing Company for the first week of January, Year :
Kayla earns $ per hour and times her regular rate for hours over per week. Kayla worked hours the first week in January. Kaylas federal income tax withholding is equal to percent of her gross pay. Webber pays medical insurance of $ per week for Kayla and contributes $ per week to a retirement plan for her.
Paula earns a weekly salary of $ Paulas federal income tax withholding is percent of her gross pay. Webber pays medical insurance of $ per week for Paula and contributes $ per week to a retirement plan for her.
Vacation pay is accrued at the rate of hours per week based on the regular pay rate for Kayla and $ per week for Paula.
Assume the Social Security tax rate is percent on the first $ of salaries, and the Medicare tax rate is percent of total salaries. The state unemployment tax rate is percent and the federal unemployment tax rate is percent of the first $ of salary for each employee.
Exercise A Static Part b
b Compute the net pay for both Kayla and Paula for the first week in January.
Note: Do not round intermediate calculations. Round your answers to decimal places.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started