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Natalie is considering hiring two permanent employees who are paid on an hurly basis plus time-and-a-half for all hours worked in excess of 40 hours

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Natalie is considering hiring two permanent employees who are paid on an hurly basis plus time-and-a-half for all hours worked in excess of 40 hours per week. She is curious as to how this would affect her company's financiat position. She has created some hypothetical payroli data which are presented below. Borke and Clarke are each married and they claim 1 and 2 withholding allowances, respectively. The 7.65% FICA tax rate consists of the Social Security tax rate of 6.2% on salaries and wages up to $128.400 and the Medicare tax rate of 1.45% on all salaries and wages. State income taxes are 4%. Prepare a payroll register for the hypothetical weekly payroll. Use the tax withholding table in Illustration 13.8 in the text for federal income tax withholdings. Since both employees have exceeded the $7,000 threshold for unemploymeht, no additional unemployment taxes are to be accrued or paid. (Round onswers to 2 decimal places, eg. 15.25.) Frepare a payroll register for the hypothetical weekly payroll. Use the tak withholding table in illustration 13.8 in the text for federal income tax withholdings. Since both employees have exceeded the $7,000 threshold for unemploymeht, no additional unemployment taxes are to be accrued or paid. (Round answers to 2 decimal places, eq 15.25.) Deductions eTextbook and Media List of Accounts Tederal income tax withholdings. Since both employees have exceeded the $7.000 threshold for unemployment, no additional unemployment taxes are to be accrued or paid. (Round answers to 2 decimal ploces, eg. 15.25.)

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