MyLab KEEPING IT REAL SUAREZ COMPUTER CENTER In preparing for next year, on December 1, Troy Falco hired two hourly employees to assist with some troubleshooting and repair work. More information: Dec. 7 Paid employee wages: Ken Joe, 36 hours, and Arto Landry, 44 hours Dec. 14 Paid employee wages: Ken Joc, 28 hours, and Arto Landry, 32 hours Dec. 21 Paid employee wages: Ken Joe, 20 hours, and Arto Landry, 32 hours a. The following accounts have been added to the chart of accounts: Wages Payable #2010, FICA OASDI Payable #2020, FICA Medicare Payable #2030, FIT Payable #2040, State Income Tax Payable #2050, FUTA Tax Payable #2060, SUTA Tax Pay- able #2070, Wages Expense #5110, and Payroll Tax Expense #5120. b. Assume FICA OASDI is taxed at 6.2% up to $127,200 in earnings, and Medicare is taxed at 1.45% on all earnings. c. State income tax is 4% of gross pay. d. None of the employees has federal income tax taken out of his or her pay. e. Each employee earns $12.50 an hour and is paid 1 times salary for hours worked in excess of 40 weekly As December comes to an end, Troy Falco wants to take care of his payroll obligations. He will complete Form 941 for the fourth quarter of the current year and Form 940 for federal unemployment taxes. Troy will make the necessary deposits and payments associ- ated with his payroll. MyLab KEEPING IT REAL SUAREZ COMPUTER CENTER In preparing for next year, on December 1, Troy Falco hired two hourly employees to assist with some troubleshooting and repair work. More information: Dec. 7 Paid employee wages: Ken Joe, 36 hours, and Arto Landry, 44 hours Dec. 14 Paid employee wages: Ken Joc, 28 hours, and Arto Landry, 32 hours Dec. 21 Paid employee wages: Ken Joe, 20 hours, and Arto Landry, 32 hours a. The following accounts have been added to the chart of accounts: Wages Payable #2010, FICA OASDI Payable #2020, FICA Medicare Payable #2030, FIT Payable #2040, State Income Tax Payable #2050, FUTA Tax Payable #2060, SUTA Tax Pay- able #2070, Wages Expense #5110, and Payroll Tax Expense #5120. b. Assume FICA OASDI is taxed at 6.2% up to $127,200 in earnings, and Medicare is taxed at 1.45% on all earnings. c. State income tax is 4% of gross pay. d. None of the employees has federal income tax taken out of his or her pay. e. Each employee earns $12.50 an hour and is paid 1 times salary for hours worked in excess of 40 weekly As December comes to an end, Troy Falco wants to take care of his payroll obligations. He will complete Form 941 for the fourth quarter of the current year and Form 940 for federal unemployment taxes. Troy will make the necessary deposits and payments associ- ated with his payroll