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Herman sully manages a frosty world Drive in. Hey straight time pay is 20 per hour with time and a half four hours in excess
Herman sully manages a frosty world Drive in. Hey straight time pay is 20 per hour with time and a half four hours in excess of 40 per week. Sullys Payroll deductions include withheld income tax of 40%, FICA tax and a weekly deduction of $11 for a charitable contribution to United Way. Sully work 60 hours during the week.
*** More info 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. Print Done - X Requirements - X 1. Compute Sully's gross pay and net pay for the week. Assume earnings to date are $17,000. 2. Journalize Frosty World's wages expense accrual for Sully's work. An explanation is not required. 3. Journalize the subsequent payment of wages to Sully. Print Done 27 Question 1 of 11 This > This possible it-time pay is $20 per hour with time and a half for hours in excess of 40 per week ritable contribution to United Way Sully worked 60 hours during the week ore info For all payroll calculations, use the following tax rates and round amounts to the nearest cent Employee OASDI. 62% on first $132.900 eamed Medicare: 145% up to $200,000, 2.35% on camings above $200.000 Employer OASDI 62% on first $132 900 earned Medicare 1 45% FUTA 0.6% on first $7.000 earned. SUTA 5 4% on first 57 000 eamed Print Done hp) equirements 1. Compute Sully's gross pay and net pay for the week. Assume earnings to date are $17,000 2. Journalize Frosty World's wages expense accrual for Sully's work. An explanation is not required 3. Journalize the subsequent payment of wages to Sully Print Done 49 hp 144 O Step by Step Solution
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