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The following information is available for the employees of Webber Packing Company for the first week of January Year 1: 1. Kayla earns $25 per
The following information is available for the employees of Webber Packing Company for the first week of January Year 1: 1. Kayla earns $25 per hour and 12 times her regular rate for hours over 40 per week. Kayla worked 47 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 $85 per week for Kayla and contributes $47 per week to a retirement plan for her 2. Paula earns a weekly salary of $1,050. Paula's federal income tax withholding is 17 percent of her gross pay. Webber pays medical insurance of $100 per week for Paula and contributes $120 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 $80 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 15 percent of total salaries. The state unemployment tax rate is 5.4 percent and the federal unemployment tax rate is 06 percent of the first $7,000 of salary for each employee. - Prepare the journal entry to record the payment of the payroll for the week. (If no entry is required for a transaction/event select No journal entry required" in the first account field. Do not round intermediate calculations. Round your answers to 2 decima places.) Answer is not complete. Debit No Credit General Journal Date Jan. Accounts payable 2,312.50 1. Prepare the journal entry to record the payroll tax expense and fringe benefit expense for Webber Packing Company for the wee Round your answers to 2 decimal places.) View transaction list Journal entry worksheet
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