Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Analysis Instructions Employee Name Ackers, Alice Conley. Dorothy Davis, James Lawrence, Kevin Current Weekly Earnings Unemployment Compensation Social Security Selected information from the payroll register
Analysis Instructions Employee Name Ackers, Alice Conley. Dorothy Davis, James Lawrence, Kevin Current Weekly Earnings Unemployment Compensation Social Security Selected information from the payroll register of Wray's Drug Store for the week ended July 14, 20- is shown below. The SUTA tax rate is 5.4%, and the FUTA tax rate is 0.896, both on the first $7,000 of earnings. Social Security tax on the employer is 6.2% on the first $118,500 of earnings, and Medicare tax is 1.45% on gross earnings 5645S 1,025 565 2,875 985 835 3.540 Cumulative Pay Before Employee NameCurrent Earnings Weekly Earnings 6,460 27.560 6.850 52,850 16,350 22,320 116,660 Current Rawings, Judy Tanaka, Sumio Vadilo, Raynette Total 845 1.025 565 2,875 085 835 3.540 Ackers, Alice S10470 S Conley, Dorothy Davis, James Employer Payroll Taxes: Social Security tax Medicare tax Lawrence. Kevin Rawlings, Judy Tanaka, Sumio Vadillo, Raynette FUTA tax SUTA tax Total emplayer payroll taxes Required: Analysis Instructions Employee Name Ackers, Alice Conley. Dorothy Davis, James Lawrence, Kevin Current Weekly Earnings Unemployment Compensation Social Security Selected information from the payroll register of Wray's Drug Store for the week ended July 14, 20- is shown below. The SUTA tax rate is 5.4%, and the FUTA tax rate is 0.896, both on the first $7,000 of earnings. Social Security tax on the employer is 6.2% on the first $118,500 of earnings, and Medicare tax is 1.45% on gross earnings 5645S 1,025 565 2,875 985 835 3.540 Cumulative Pay Before Employee NameCurrent Earnings Weekly Earnings 6,460 27.560 6.850 52,850 16,350 22,320 116,660 Current Rawings, Judy Tanaka, Sumio Vadilo, Raynette Total 845 1.025 565 2,875 085 835 3.540 Ackers, Alice S10470 S Conley, Dorothy Davis, James Employer Payroll Taxes: Social Security tax Medicare tax Lawrence. Kevin Rawlings, Judy Tanaka, Sumio Vadillo, Raynette FUTA tax SUTA tax Total emplayer payroll taxes Required
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