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answer please. Thanks! E13.7B (L0 1) (Payroll Tax Entries) Bastop Company's payroll for August 2020 is summarized below. At this point in the year some
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E13.7B (L0 1) (Payroll Tax Entries) Bastop Company's payroll for August 2020 is summarized below. 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 F.LC.A. rate is 7.65% on an employee's wages to $128,400 and 1.45% in excess of $128,400. Of the $441,000 wages subject to FI.C.A. tax, $30,000 of the sales wages and $25,000 of administrative wages are in excess of $128,400. Federal unemployment tax rate is 0.8% after credits. Income tax withheld amounts to $28,000 for factory; $31,000 for sales, and $9,000 for administrative. Instructions (a) Prepare a schedule showing the employer's total cost of wages for August by function. (b) Prepare the joumal entries to record the factory, sales, and administrative payrolls including the employer's payroll taxes please. Thanks!
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