Question
Use the payroll information below to answer the following questions Employees Hourly Wage Hours Worked Cumulative Earnings Al. Angel $45.00 38 $99,800 Bert Bayou $18.00
Use the payroll information below to answer the following questions
Employees | Hourly Wage | Hours Worked | Cumulative Earnings |
Al. Angel | $45.00 | 38 | $99,800 |
Bert Bayou | $18.00 | 43 | $6,100 |
Claudia Cooper | $17.00 | 40 | 5,700 |
Danielle Donovan | $43.00 | 48 | 110,000 |
Over time is paid at 1 ½ times of the regular hourly wage. Assume there are no voluntary contributions.
The following are the current information about tax liabilities:
Tax | Rate | Ceiling |
Social Security | 6.0% | $100,000 |
Medicare | 1.50% | N/A |
SUTA | 5% | $7,000 |
FUTA | 1% | 7,000 |
Additional Information:
Federal Income taxes will be equal to 20% of the total weekly earnings.
Compute:
a. Total Social Security Payable
b. Total Medicare Payable
c. Total SUTA Payable
d. Total FUTA Payable
e. Total Federal Income Tax Payable
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