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The following monthly data are taken from Ramirez Company at July 31: Sales salaries, $560,000; Office salaries, $112,000; Federal income taxes withheld, $168,000; State income
The following monthly data are taken from Ramirez Company at July 31: Sales salaries, $560,000; Office salaries, $112,000; Federal income taxes withheld, $168,000; State income taxes withheld, $37,500; Social security taxes withheld, $41,664; Medicare taxes withheld, $9,744; Medical insurance premiums, $13,500; Life insurance premiums, $10,500; Union dues deducted, $7,500; and Salaries subject to unemployment taxes, $63,000. The employee pays forty percent of medical and life insurance premiums. 1&2. Using the above information, complete the below table. Total Premium % Paid by Premium Paid Premium Paid Employees by Employees by Employer Employee Medical Insurance Payable Employee Life Insurance Payable
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