Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please help Hal Sampson manages a Dairy King drive-2. His straighteme pay is $17 per hour, with time-and-a-half for hours in excess of 40 per

please help
image text in transcribed
image text in transcribed
image text in transcribed
Hal Sampson manages a Dairy King drive-2. His straighteme pay is $17 per hour, with time-and-a-half for hours in excess of 40 per week. Sampson's payrol deducticns include witheld income tax of 40%, FICA tax, and a weeky deduction of $6 for a charthble contribution to United Way Sampson worked 54 hours during the week (1. (Cick the icon to view payrol tax rate information) Read the requirements Requirement 1. Compule Sampson's gross pay and net pay for the week. Assume eamings to date are 58000 . (Round al ameunts to the nearest cont) Begin by computing Sampson's gross pay for the week. Compute Sampson's net pay for the week, (Round all amounts to the nearest cent) anages a Dairy King drive-in. His straight-time pay is $17 per hour, with time-and-a-half for hours in excess of 40 per we 6, and a weekly deduction of $6 for a charitable contribution to United Way. Sampson worked 54 hours during the week on to view payroll tax rate information.) ments. Requirements 1. Compute Sampson's gross pay and net pay for the week. Assume earnings to date are $8,000. 2. Journalize Dairy King's wages expense accrual for Sampson's work. An explanation is not required. 3. Journalize the subsequent payment of wages to Sampson. nages a Dairy King drive-in. His straight-time pay is $17 per hour, with time-and-a-half for hours in excess of 40 per and a weekly deduction of $6 for a charitable contribution to United Way. Sampson worked 54 hours during the wee n to view payroll tax rate information.) nents. More info For all payroll calculations, use the following tax rates and round amounts to the nearest cent: Employee: OASDI: 6.2% on first $132,900 earned; Medicare: 1.45% up to $200,000,2.35% on earnings above $200,000. Employer: OASDI: 6.2% on first $132,900 earned; Medicare: 1.45%; FUTA: 0.6% on first $7,000 earned; SUTA: 5.4% on first $7,000 earned

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals of Cost Accounting

Authors: William Lanen, Shannon Anderson, Michael Maher

4th edition

78025524, 978-0078025525

More Books

Students also viewed these Accounting questions