Question
this is a practice question I am trying to figure out how to calculate: Barbara is an employee of Baltimore Company. Baltimore Company pays employees
this is a practice question I am trying to figure out how to calculate:
Barbara is an employee of Baltimore Company. Baltimore Company pays employees the Friday after the wages are earned. Overtime in excess of 40 hours must be paid at 150% of the normal hourly rate.Social Security taxes are 6.2% and Medicare taxes are 1.45%. The federal unemployment tax rate is 1.2% and the state unemployment tax rate is 4.5%. Barbara's wages, including the current pay period, will not exceed the limits for Social Security, Medicare and unemployment taxes.Barbara earns $20 per hour and worked 45 hours for the week ended January 13 , 2019.Baltimore will withhold $220 federal income taxes. determine the total payroll tax expense for Baltimore Company as related to Barbara's earnings.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started