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Williams Company pays its employees time-and-a-half for hours worked in excess of 40 per week. The information available from time records and employees' individual earnings
Williams Company pays its employees time-and-a-half for hours worked in excess of 40 per week. The information available from time records and employees' individual earnings records for the pay period ended September 21 is shown in the following chart: Income Earnings at End of Previous Daily Time Tax Pay Rate Allowances or Amount Name T Week S Bolt, D. 6,745.00 0 1 25.00 49.50 Dore, C. 136,240.00 $252.30 2 Gayle, A. 32,730.00 0 24.50 117,560.00 Hale, R. Jilly, B. 35,154.00 40.00 49.50 20.50 $195.50 $291.25 2 Karn, S. 29,938.00 8 8 | 9 8 8 0 Ober, N. 6,795.00 9 4 21.00 Wong, J. 27,252.00 8 10 880 20.00 2. 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. Required: 1. Complete the payroll register using the wage-bracket income tax withholding table in Figure 3. The Social Security tax rate is 6.2 percent, and the Medicare tax rate is 1.45 percent. Assume that all employees are married. In the payroll register, begin payroll checks with No. 1863. 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
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