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HI could you complete both parts pleaseee Stark Company has five employees. Employees paid by the hour receive a $15 per hour pay rate for
HI could you complete both parts pleaseee
Stark Company has five employees. Employees paid by the hour receive a $15 per hour pay rate for the regular 40-hour workweek plus one and one-half times the hourly rate for each overtime hour beyond the 40 hours per week. Hourly employees are paid every two weeks, but salaried employees are paid monthly on the last biweekly payday of each month. FICA Social Security taxes are 6.2% of the first $118,500 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to each employee. The company has a benefits plan that includes medical insurance, life insurance, and retirement funding for employees. Under this plan, employees must contribute 5 percent of their gross income as a payrol withholding, which the company matches with double the amount. Following is the partially completed payroll register for the biweekly period ending August 31, which is the last payday of August a. Complete this payroll register by filling in all cells for the pay period ended August 31. (Round your answers to 2 decimal places.) FICA Employee Plan FICA S.S. Medicare With Employee Employee Current Period Gross Pay FIT holding Employe Cumulative Pay Withholding Employee (Excludes Current Period) P Pay Gross Pay Withholding FICA SIT SUTA FICA s.s Employer Medicare Employer Plan Net Pay Expense ype Hours Employer S 2,250.00 400.00 90.00 25.00 120.00 30.00 110.00 27.00 100.00 26.00 $ 2,670.00 508.00 KathleenS 115,700.00 Salary $ 7,000.00 27.50 Anthony 6,150.00 Salary 550.00 55.00 15,500.00 gular 80 6,75000 Regular 5,250.00gular 74 Nichole Overtime9 oe Overtime4 1,110.00 Gracie Overtime Totals $ 149,350.00Step by Step Solution
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