Question
For all payroll calculations, use the following tax rates and round amounts to the nearest cent: Employee: OASDI: 6.2% on first $132,900 earned; Medicare: 1.45%
For all payroll calculations, use the following tax rates and round amounts to the nearest cent:
Employee: | OASDI: 6.2% on first$132,900 earned; Medicare:1.45% up to$200,000, 2.35% on earnings above$200,000. |
Employer: | OASDI: 6.2% on first$132,900 earned; Medicare:1.45%; FUTA:0.6% on first$7,000 earned; SUTA:5.4% on first$7,000 earned. |
Robinson
works at College of
Boston
and is paid
$30
per hour for a 40-hour workweek and time-and-a-half for hours above 40.
For all payroll calculations, use the following tax rates and round amounts to the nearest cent: Employee: OASDI: 6.2% on first $132,900 earned; Medicare: 1.45% up to $200,000, 2.35% on earnings above $200,000. Employer: OASDI: 6.2% on first $132,900 earned; Medicare: 1.45%; FUTA: 0.6% on first $7,000 earned; SUTA: 5.4% on first $7,000 earned. For all payroll calculations, use the following tax rates and round amounts to the nearest cent: Employee: OASDI: 6.2% on first $132,900 earned; Medicare: 1.45% up to $200,000, 2.35% on earnings above $200,000. Employer: OASDI: 6.2% on first $132,900 earned; Medicare: 1.45%; FUTA: 0.6% on first $7,000 earned; SUTA: 5.4% on first $7,000 earned. For all payroll calculations, use the following tax rates and round amounts to the nearest cent: Employee: OASDI: 6.2% on first $132,900 earned; Medicare: 1.45% up to $200,000, 2.35% on earnings above $200,000. Employer: OASDI: 6.2% on first $132,900 earned; Medicare: 1.45%; FUTA: 0.6% on first $7,000 earned; SUTA: 5.4% on first $7,000 earned. For all payroll calculations, use the following tax rates and round amounts to the nearest cent: Employee: OASDI: 6.2% on first $132,900 earned; Medicare: 1.45% up to $200,000, 2.35% on earnings above $200,000. Employer: OASDI: 6.2% on first $132,900 earned; Medicare: 1.45%; FUTA: 0.6% on first $7,000 earned; SUTA: 5.4% on first $7,000 earned. For all payroll calculations, use the following tax rates and round amounts to the nearest cent: Employee: OASDI: 6.2% on first $132,900 earned; Medicare: 1.45% up to $200,000, 2.35% on earnings above $200,000. Employer: OASDI: 6.2% on first $132,900 earned; Medicare: 1.45%; FUTA: 0.6% on first $7,000 earned; SUTA: 5.4% on first $7,000 earned.
.
Compute
Robinson's
gross pay for working
58
hours during the first week of February.
2.
Robinson
is single, and her income tax withholding is
10%
of total pay.
Robinson's
only payroll deductions are payroll taxes. Compute
Robinson's
net(take-home) pay for the week. Assume
Robinson's
earnings to date are less than the OASDI limit.
3.
Journalize the accrual of wages expense and the payments related to the employment of
Jenna
Robinson.
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