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Vaughn Company has the following data for the weekly payroll ending January 31. Employee M T W L. Helton R. Kenseth D. Tavaras 9 8
Vaughn Company has the following data for the weekly payroll ending January 31. Employee M T W L. Helton R. Kenseth D. Tavaras 9 8 9 8 00 9 Hours 10 9 7 8 T 8 8 9 F S 10 8 8 2 4 0 Hourly Rate $12 14 15 Federal Income Tax Withholding $33 37 60 Health Insurance $10 27 26 Cumulative Earnings (Jan. 1- 24) $1,440 1,722 1,800 Employees are paid 1 times the regular hourly rate for all hours worked in excess of 40 hours per week. The 7.65% FICA tax rate consists of the Social Security tax rate of 6.2% on salaries and wages up to $128,400 and the Medicare tax rate of 1.45% on all salaries and wages.
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