A partial summary of the payroll data for Long Industries for each week of June is as

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A partial summary of the payroll data for Long Industries for each week of June is as follows:

a. Compute the missing amounts in the summary, assuming that no employees have reached the $120,000 FICA maximum.
b. For each payroll period, prepare journal entries to
(1) Record the payroll
(2) Record the payments to employees.

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Principles of Cost Accounting

ISBN: 978-1305087408

17th edition

Authors: Edward J. Vanderbeck, Maria Mitchell

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Question Posted: Mar 31, 2015 11:33 AM

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A partial summary of the payroll data for Long Industries for each week of June is as

Question:

June 7 June 14 June 21 June 28 $36,500 34,200 37,300 38,400 Gross earnings. . Deductions: Income tax .. . Health insurance .. Tax-sheltered annuity.. 4,215 600 1,825 4,120 600 1,780 4,320 600 1,855 4,410 600 1,870 Total deductions Net earnings . ..

Step by Step Answer:

a June 7 June 14 June 21 June 28 FICA tax 2920 2736 2984 3072 Total deductions 9560 9236 9...View the full answer

Principles of Cost Accounting

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