Exercise 13-7 (Part Level Submission)

Pronghorn Hardware Companys payroll for November 2017 is summarized below.

					Amount Subject to Payroll Taxes
						Unemployment Tax
Payroll		Wages Due		FICA		Federal		State
Factory		$122,600		$122,600		$41,300		$41,300
Sales		33,800		33,800		4,200		4,200
Administrative		39,100		39,100
Total		$195,500		$195,500		$45,500		$45,500

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 $195,500 wages subject to FICA tax, $20,300 of the sales wages is in excess of $118,500. Federal unemployment tax rate is 0.8% after credits. Income tax withheld amounts to $17,300 for factory, $6,700 for sales, and $5,800 for administrative.

(a) Prepare a schedule showing the employer's total cost of wages for November by function. (Round answers to O decimal places, e.g 5,275.) Factory Sales Administrative Total Salaries and Wages FICA Taxes FUTA Taxes SUTA Taxes Total Cost 122600 39100 $ 33800 195500 SHOW LIST OF ACCOUNTS LINK TO TEXT Attempts: 0 of 3 used