View the payroll tax information.

Read the requirements.

Requirement $1.$ Compute Bennington's net pay for October. $($Round all amounts to the nearest cent.$)$

Withholding deductions:

Requirements

Compute Bennington's net pay for October.

Journalize the accrual of salaries expense and the payment related to the

employment of Bennington.

Payroll Tax Information

For all payroll calculations, use the following tax rates and round amounts to the

nearest cent:

Employee: OASDI: $6\mathrm{.}2\%$ on first $$147,000$ earned; Medicare: $1\mathrm{.}45\%$ up to

$$200,000,2\mathrm{.}35\%$ on earnings above $$200,000.$

Employer: OASDI: $6\mathrm{.}2\%$ on first $$147,000$ earned; Medicare: $1\mathrm{.}45\%$; FUTA:

$0\mathrm{.}6\%$ on first $$7,000$ earned; SUTA: $5\mathrm{.}4\%$ on first $$7,000$ earned.