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Kingbird Hardware's payroll for November is summarized below. Amount Subject to Payroll Taxes Unemployment Tax Payroll Wages Due FICA Federal State Factory $124,000 $124,000
Kingbird Hardware's payroll for November is summarized below. Amount Subject to Payroll Taxes Unemployment Tax Payroll Wages Due FICA Federal State Factory $124,000 $124,000 $39,000 $39,000 Sales 32,000 32,000 4,000 4,000 Administrative 36,000 36.000 Total $192.000 $192,000 $43,000 $43,000 At this point in the year, some employees have already received wages in excess of those to which payroll taxes apply Assume that the state unemployment tax is 2.5% The FICA rate is 7.65% on an employee's wages to $142,000 and 1.45% in excess of $142,000. Of the $192,000 wages subject to FICA tax $20,000 of the sales wages is in excess of $142,800 Federal unemployment tax rate is 0.8% after credits. Income tax withheld amounts to $15.600 for factory, $7,500 for sales, and $6,400 for administrative (a) Your answer is partially correct Prepare a schedule showing the employer's total cost of wages for November by function Wages FICA Taxes Federal UT State UT Total Cost Factory 134000 Sales 32000 Administrative 36000 T
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