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TB EX Qu. 8-161 Accurate Reports has... Accurate Reports has 60 employeeseach working 47 hours per week and earning $23 an hour. Federal income taxes

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TB EX Qu. 8-161 Accurate Reports has... Accurate Reports has 60 employeeseach working 47 hours per week and earning $23 an hour. Federal income taxes are withheld at 15% and state income taxes at 6%. FICA taxes are 7.65% of the first $118.500 earned per employee and 1.45% thereafter. Unemployment taxes are 6.20% of the first $7,000 earned per employee. 1. Compute the total salaries expense, the total withholdings from employee salaries, and the actual payroll payment (salaries payable) for the first week of January (Round your intermediate and final answers to the nearest dollar amount.) Total salarios expense Total withholdings Actual direct deposit 2. Compute the total payroll tax expense Accurate Reports will pay for the first week of January (Round your intermediate and final answers to the nearest dollar amount.) Total payroll tax expense

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