Summary Payroll Data In the following summary of data for a payroll period, some amounts have been intentionally omitted: Earnings: 1. At regular rate 2. At overtime rate 3. Total earnings ? $80,000 ? Deductions: 4. Social security tax (32,400) 5. Medicare tax (8,100) 6. Income tax withheld (135,000) 7. Medical insurance (18,900) 8. Union dues ? 9. Total deductions (201,150) 10. Net amount paid $338,850 Accounts debited: 11. Factory Wages 285,000 12. Sales Salaries 13. Office Salaries ? 120,000 a. Calculate the amounts omitted in lines (1), (3), (8), and (12). Assume that the social security tax rate was 6.0% and the Medicare tax rate was 1.5%. a. Calculate the amounts omitted in lines (1), (3), (8), and (12). Assume that the social security tax rate was 6.0% and the Medicare tax rate was 1.5%. (1) (3) (8) (12) Feedback Check My Work Consider how deductions such as social security and Medicare taxes are calculated. How can these calculations help you solve for some of the missing amounts? b. Journalize the entry to record the payroll accrual. If an amount box does not require an entry, leave it blank. Factory Wages Expense Sales Salaries Expense Office Salaries Expense Social Security Tax Payable Medicare Tax Payable Employees Income Tax Payable Medical Insurance Payable Union Dues Payable Salaries Payable Check My Work Previous Next