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Crane Company has the following data for the weekly payroll ending January 31. Employee L. Helton R. Kenseth D. Tavaras M 8 8 9 T
Crane Company has the following data for the weekly payroll ending January 31. Employee L. Helton R. Kenseth D. Tavaras M 8 8 9 T 8 8 10 Hours W 12 8 T 8 8 8 8 LL 10 8 S 3 5 9 0 Hourly Rate Federal Income Tax Withholding Health Insurance $12 16 15 $34 37 58 $10 25 25 Employees are paid 1 times the regular hourly rate for all hours worked in excess of 40 hours per week. FICA taxes are 7.65% (the 7.65% FICA tax rate consists of the Social Security tax rate of 6.2% on salaries and wages up to $128,400 and the Medicare tax rate of 1.45% on all salaries and wages). Crane Company is subject to 5.4% state unemployment taxes and 0.6% federal unemployment taxes on the first $7,000 of gross earnings. A
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