Question
In preparing the payroll for the week of 17 June 20 - - Al Bundy was given the following: Social security = 6.2 % cap
In preparing the payroll for the week of 17 June 20 - - Al Bundy was given the following:
Social security = 6.2 % cap of $128,400
Medicare = 1.45% no cap
FUTA = 0.6 % cap $7000
SUTA = 5.4% cap $7000
Illinois state income tax = 5.0 % no cap
All employees pay health insurance of $15 per week
All employees pay dental insurance of $5 per week
Bud Bundy contributes $25 per week to US savings bonds
Federal withholding given at Peg = $41, Bud = $17 and Kelly = $10
Peg Bundy earned $359 and had a YTD income of $6895
Bud Bundy earned $250 and had a YTD income of $7500
Kelly Bundy earned $105 and had a YTD income of $128,375
Computer the social security tax payable for all employees for 17 June 20 - -
$44.27
$39.31
$714
$68
$35.7
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Managerial Accounting
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