Answered step by step
Verified Expert Solution
Question
1 Approved Answer
TOTAL HOURS CUMULATIVE EARNINGS TOTAL EARNINGS CUMULATIVE EARNINGS SECURITY SOCIAL SECURITY INCOME TAX NAME MEDICARE TAX Albee, C. 63,306.00 1,653.00 64,959 4,027.46 x Don, V.
TOTAL HOURS CUMULATIVE EARNINGS TOTAL EARNINGS CUMULATIVE EARNINGS SECURITY SOCIAL SECURITY INCOME TAX NAME MEDICARE TAX Albee, C. 63,306.00 1,653.00 64,959 4,027.46 x Don, V. 136,340.00 2,837.00 139,177 Fine, J. 76,870.00 1,509.00 78,379 4 Ginny, N. 6 33,651.00 658.00 34,309 4 17 v Johnson, J. 56,947.00 36.947.00) 1,112.00 58,059 4 to Lund, D. 2,098.00 113,876 Maya, R. 1,313.00 68,250 42 41 ~ 56,989.00 36,107.00 Nord, P. 11 36,707.00 725.00 37,432 Oscar, T. 93,442.00 1,836.00 95,278 Troy, B. 47,233.00 932.00 48,165 SECURITY TAX MEDICARE TAX OTHER DEDUCTIONS NET AMOUNT TOTAL NO. SALES SALARY OFFICE SALARY 6 # 4 UW 2,914 # 4 AR 2,915 # 4 UW 2,916 # 2,917 # UW 2,918 # # 2,919 # # 2,920 11 # # 2,921 # # UW 2,922 # # UW 2,923 # # The information for Titan Company, shown in the following chart, is available from Titan's time records and the employees' individual earnings records for the pay period ended December 22. Earnings at End of Previous Week Hours Worked 44 Federal Income Tax Name Albee, C. 63,306.00 197.35 Other Deductions UW 20.00 100.00 30.00 Don, V. 136,340.00 494.75 Fine, ). 76,870.00 173.60 Ginny, N. 33,651.00 46.95 40.00 Johnson, J. 56,947.00 Total Earnings Class. 1,653.00 Sales 2,837.00 Sales 1,509.00 Sales 658.00 Office 1,112.00 Office 2,098.00 Sales 1,313.00 Sales 725.00 Sales 1,836.00 Sales 932.00 Sales 114.90 25.00 Lund, D. 111,778.00 309.65 20.00 Maya, R. 66,937.00 145.15 AR Nord, P. 36,707.00 56.00 70.00 25.00 25.00 Oscar, T. 43 93,442.00 242.85 UW Troy, B. 40 47,233.00 87.85 UW 15.00 Taxable earnings for Social Security are based on the first $118,500. Taxable earnings for Medicare are based on all earnings. Taxable earnings for federal and state unemployment are based on the first $7,000. The company does not pay for overtime hours. Required: 1. Complete the payroll register using a Social Security tax rate of 6.2 percent and a Medicare tax rate of 1.45 percent. Concerning Other Deductions, AR refers to Accounts Receivable and UW refers to United Way. Begin payroll checks in the payroll register with No. 2914. If an amount is zero, enter "O". If required, round your intermediate calculations and the final answers to the nearest cent and use the rounded answers in subsequent computations
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