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Assume that the payroll records of Bramble Oil Company provided the following information for the weekly payroll ended November 30, 2020. Employee Hours Worked
Assume that the payroll records of Bramble Oil Company provided the following information for the weekly payroll ended November 30, 2020. Employee Hours Worked Hourly Pay Rate Federal Income Tax Union Dues T.King 44 $47 $442 $9 Year-to-Date Earnings Through Previous Week $133,900 T. Binion 46 12 97 5. 23,200 N.Cole 40 17 148 C. Hennesey 42 22 230 47 5,700 49,500 Additional information: All employees are paid overtime at time and a half for hours worked in excess of 40 per week. The FICA tax rate is 7.65% for the first $132,900 of each employee's annual earnings and 1.45% on any earnings over $132,900. The employer pays unemployment taxes of 6.0% (5.4% for state and .6% for federal) on the first $7.000 of each employee's annual earnings.
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