Answered step by step
Verified Expert Solution
Question
1 Approved Answer
no handwriting pls or make it clear. Required information E9-3 (Algo) Computing Payroll Costs; Discussion of Labor Costs LO 9-1 [The following information applies to
no handwriting pls or make it clear.
Required information E9-3 (Algo) Computing Payroll Costs; Discussion of Labor Costs LO 9-1 [The following information applies to the questions displayed below.] Oaks Company has completed the payroll for the month of January, reflecting the following data: $ 87,000 Salaries and wages earned Employee income taxes withheld FICA payroll taxes* 10,000 6,300 "Assessed on both employer and employee (.e., $6,300 each). E9-3 Part 1 Required: 1-a. What was the total labor cost to the company? Total labor cost 1-b. What was the amount of the employees' take-home pay? Take-home pay Required information E9-3 (Algo) Computing Payroll Costs; Discussion of Labor Costs LO 9-1 (The following information applies to the questions displayed below.) Oaks Company has completed the payroll for the month of January, reflecting the following data: $ 87,000 Salaries and wages earned Employee income taxes withheld FICA payroll taxes* 10.000 6,300 *Assessed on both employer and employee (i.e., $6,300 each). E9-3 Part 2 2. List the liabilities and their amounts reported on the company's January 31 balance sheet, assuming the employees have been paid but that no transfers have been made to government agencies. OAKS COMPANY Balance Sheet Liabilities (Partial) As of January 31 Total TStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started