Chet 8 Part 2 of 5 0.45 points Required information Problem 9-24A Computation of net pay and payroll expense LO 9.5 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 Yeart: 1. Koyla earns $25 per hour and 1 times her regular rate for hours over per week, Kayla worked 51 hours the first week in January, Kayla's federal income tax withholding is equal to 9 percent of her gross pay. Wobber pays medical Insurance of $90 per week for Kayfa and contributes $56 per week to a retirement plan for her 2. Paul earns a weekly salary of $1150 Paula's federal income tax withholding is 15 percent of her gross pay. Webber pays medical insurance of $105 per week for Paulo and contributes 5110 per week to a retirement plan for her 3. Vacation pay is accrued at the rate of 2 hours per week based on the regular pay rate) for Kayin and $95 per week for Paula Sped Assume the Social Security tax rate is 60 percent on the first $110,000 of salaries and the Medicare tax rate is 15 percent of total salaries. The state unemployment tax rate is 5.4 percent and the federal unemployment tax rate is 06 percent of the first $7,000 of salary for each employee. References Problem 9-24A Part b b. Compute the net pay for both Kayla and Poulo for the first week in January (Do not round intermediate calculations. Round your answers to 2 decimal places.) Net Pay Kayla Paula MC Journal entry worksheet Record the entry for payroll tax expense. Note: Enter debits before credits. General Journal Debit Credit Date Jan. Payroll tax expense FICA tax - SS payable FICA tax - Medicare payable Federal unemployment tax payable State unemployment tax payable Record entry Clear entry View general journal Chet 8 Part 2 of 5 0.45 points Required information Problem 9-24A Computation of net pay and payroll expense LO 9.5 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 Yeart: 1. Koyla earns $25 per hour and 1 times her regular rate for hours over per week, Kayla worked 51 hours the first week in January, Kayla's federal income tax withholding is equal to 9 percent of her gross pay. Wobber pays medical Insurance of $90 per week for Kayfa and contributes $56 per week to a retirement plan for her 2. Paul earns a weekly salary of $1150 Paula's federal income tax withholding is 15 percent of her gross pay. Webber pays medical insurance of $105 per week for Paulo and contributes 5110 per week to a retirement plan for her 3. Vacation pay is accrued at the rate of 2 hours per week based on the regular pay rate) for Kayin and $95 per week for Paula Sped Assume the Social Security tax rate is 60 percent on the first $110,000 of salaries and the Medicare tax rate is 15 percent of total salaries. The state unemployment tax rate is 5.4 percent and the federal unemployment tax rate is 06 percent of the first $7,000 of salary for each employee. References Problem 9-24A Part b b. Compute the net pay for both Kayla and Poulo for the first week in January (Do not round intermediate calculations. Round your answers to 2 decimal places.) Net Pay Kayla Paula MC Journal entry worksheet Record the entry for payroll tax expense. Note: Enter debits before credits. General Journal Debit Credit Date Jan. Payroll tax expense FICA tax - SS payable FICA tax - Medicare payable Federal unemployment tax payable State unemployment tax payable Record entry Clear entry View general journal
