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I need a Very Quick and complete solution for this question. Anyone who is sure about the answer please go ahead to solve it with
I need a Very Quick and complete solution for this question. Anyone who is sure about the answer please go ahead to solve it with neat and clean handwriting.
For the first payroll in November, the records on Gourmet Company show direct labor Rs. 22,000; indirect factory labor Rs. 6000; sales salaries Rs. 5000 and administrative office salaries Rs. 6600. The FICA tax rate is 7.5% and UCI tax 2.5%. State and federal income taxes withheld are Rs. 3000. And the city wage tax is 1% on employee gross earning and it is paid by the employees. employer contributions includes the state UCI tax rate is 3%. And FUTA tax rate is 0.8% and FICA tax rate is 7.5%.. Required: Prepare the entry to record payroll liability, distribute the payroll cost and employer payroll taxes, treated as indirect cost. For the first payroll in November, the records on Gourmet Company show direct labor Rs. 22,000; indirect factory labor Rs. 6000; sales salaries Rs. 5000 and administrative office salaries Rs. 6600. The FICA tax rate is 7.5% and UCI tax 2.5%. State and federal income taxes withheld are Rs. 3000. And the city wage tax is 1% on employee gross earning and it is paid by the employees. employer contributions includes the state UCI tax rate is 3%. And FUTA tax rate is 0.8% and FICA tax rate is 7.5%.. Required: Prepare the entry to record payroll liability, distribute the payroll cost and employer payroll taxes, treated as indirect costStep by Step Solution
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