Question
Exercise 13-7 (Part Level Submission) Blossom Hardware Companys payroll for November 2017 is summarized below. Amount Subject to Payroll Taxes Unemployment Tax Payroll Wages Due
Exercise 13-7 (Part Level Submission) Blossom Hardware Companys payroll for November 2017 is summarized below. Amount Subject to Payroll Taxes Unemployment Tax Payroll Wages Due FICA Federal State Factory $129,000 $129,000 $40,800 $40,800 Sales 33,200 33,200 3,900 3,900 Administrative 39,300 39,300 Total $201,500 $201,500 $44,700 $44,700 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 FICA rate is 7.65% on an employees wages to $118,500 and 1.45% in excess of $118,500. Of the $201,500 wages subject to FICA tax, $21,900 of the sales wages is in excess of $118,500. Federal unemployment tax rate is 0.8% after credits. Income tax withheld amounts to $14,700 for factory, $6,900 for sales, and $5,900 for administrative. Collapse question part (a) Prepare a schedule showing the employers total cost of wages for November by function. (Round answers to 0 decimal places, e.g. 5,275.) Factory Sales Administrative Total Salaries and Wages $ $ $ $ FICA Taxes FUTA Taxes SUTA Taxes Total Cost $ $ $ $
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