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Required information Skip to question [The following information applies to the questions displayed below.] The following information is available for the employees of Webber Packing

Required information

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[The following information applies to the questions displayed below.] The following information is available for the employees of Webber Packing Company for the first week of January Year 1:

Kayla earns $28 per hour and 1 times her regular rate for hours over 40 per week. Kayla worked 49 hours the first week in January. Kaylas federal income tax withholding is equal to 11 percent of her gross pay. Webber pays medical insurance of $95 per week for Kayla and contributes $48 per week to a retirement plan for her.

Paula earns a weekly salary of $1,400. Paulas federal income tax withholding is 19 percent of her gross pay. Webber pays medical insurance of $115 per week for Paula and contributes $110 per week to a retirement plan for her.

Vacation pay is accrued at the rate of 2 hours per week (based on the regular pay rate) for Kayla and $90 per week for Paula.

Assume the Social Security tax rate is 6.0 percent on the first $110,000 of salaries and the Medicare tax rate is 1.5 percent of total salaries. The state unemployment tax rate is 5.4 percent and the federal unemployment tax rate is 0.6 percent of the first $7,000 of salary for each employee.

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Required informetion [The following information applies to the questions displayed below.] The following information Is avaliable for the employees of Webber Packing Company for the first week of January Year 1; 1. Kayla earns $28 per hour and t1/2 times her regular rate for hours over 40 per week. Kayla worked 49 hours the first week in January. Kayla's federal income tax withholding is equal to 11 percent of her gross pay. Webber pays medical Insurance of $95 per week for Kayla and contributes $48 per week to a retirement plan for her. 2. Paula earns a weekly salary of \$1,400. Paula's federal Income tax withhoiding is 19 percent of her gross pay. Webber pays medical insurance of $115 per week for Paula and contributes $110 per week to a retirement plan for her. 3. Vacation pay is accrued at the rate of 2 hours per week (based on the regular pay rate) for Kayla and $90 per week for Paula. Assume the Social Security tax rate is 6.0 percent on the first $110,000 of salaries and the Medicare tax rate is 1.5 percent of total salarles. The state unemployment tax rate is 5.4 percent and the federal unemployment tax rate is 0.6 percent of the first $7,000 of salary for each employee. Requlred a. Compute the gross pay for Kayla for the first week in January. (Round your answer to 2 decimal places.) c. Prepare the journal entry to record the payment of the payroll for the week. (If no entry is requlred for a transaction/event, select "No journal entry required" In the first account fleld. Do not round Intermedlate calculations. Round your answers to 2 decimal places.) Journal entry worksheet Record the entry for payment of the payroll for the week. Noten Enter debits before credits. 1. Prepare the joumal entry to record the payroll tax expense and fringe benefit expense for Webber Packing Company for the week. if no entry is required for a transoctlon/event, select "No journal entry required" In the first occount fleid. Round your answers to 2 decimel places.) Journal entry worksheet Nobei Enter deb ts betore credits. b. Compute the net pay for both Kayla and Paula for the first week In January. (Do not round Intermedlate calculetions. Round your answers to 2 decimal places.) What is the total cost of compensation expense for the first week of January Year 1 for Webber PackIng Company? (Do not round ntermedlate calculatlons. Round your answer to 2 decimal places.)

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