Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Roy DeSoto earns a regular hourly salary of $24.00. He Is pald time-and-a-half for all hours in excess of 40 in the week. For the

image text in transcribed
image text in transcribed
Roy DeSoto earns a regular hourly salary of $24.00. He Is pald time-and-a-half for all hours in excess of 40 in the week. For the week ended March 8, 2016, he worked a total of 60 hours. His gross wages year to date, pnor to his March 8, paycheck, are $12.320. Social Security Tax Is 6.2%. Medicare Tax ls 1.45%, federal unemployment tax is 0.6% and state unemployment tax is 54%, both on a maximum of $7000 of gross wages per year. What is the employer's payroll tax expense for Roy for the week ended March 8,2016? O $196.56 $131.04 O$128.52 O $22932 010 e Type here to search - + Fy FS F4 Fs

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

More Books

Students also viewed these Accounting questions