Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Assume that the payroll records of Sarasota Oil Company provided the following information for the weekly payroll ended November 30, 2020. Employee T. King T.
Assume that the payroll records of Sarasota Oil Company provided the following information for the weekly payroll ended November 30, 2020. Employee T. King T. Binion N.Cole C. Hennesey (a) Hours Worked T.King T.Binion N.Cole 44 46 Total Employee Hours C.Hennesey 40 42 eTextbook 44 46 40 42 eTextbook and Media List of Accounts Hourly Pay Rate $59 $ 24 Prepare the payroll register for the pay period. (Round answers to 2 decimal places, e.g. 15.25.) $ 2 34 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. Federal Income Tax $442 Regular 97 148 SA 230 2 Union Dues $9 Earnings 5 Overtime 7 Year-to-Date Earnings Through Previous Week $ $133,900 23,200 5,700 49.500 SARASOTA Payro For the Week Endi Gross Pay Assistance Used
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