Question: please help! ive tried this and got wrong answers Natalie is considering hiring two permanent employees who are paid on an hourly basis plus time-and-a-half





Natalie is considering hiring two permanent employees who are paid on an hourly basis plus time-and-a-half for all hours worked in excess of 40 hours per week. She is curious as to how this would affect her company's financial position. She has created some hypothetical payroll data which are presented below. Employee Hours Worked Cumulative Prior Earnings Federal Income Tax United Fund Hourly Rate $12 B. Borke 40 $? $8 $10,560 11.440 E Clarke 50 12 10 Borke and Clarke are each married and they claim 1 and 2 withholding allowances, respectively. The 7.65% FICA tax rate consists of the Social Security tax rate of 6.2% on salaries and wages up to $128.400 and the Medicare tax rate of 1.45% on all salaries and wages. State income taxes are 4% Prepare a payroll register for the hypothetical weekly payroll. Use the tax withholding table in illustration 13.8 in the text for federal income tax withholdings. Since both employees have exceeded the $7,000 threshold for unemployment, no additional unemployment taxes are to be accrued or paid. (Round answers to 2 decimal places, eg. 15.25.) Earnings Wages Hours Expense Employees Regular Overtime Gross Pay B. Borke 40 480 0 19 E. Clarke 50 600 180 Totals 90.00 1080 $ 180 126 Prepare a payroll register for the hypothetical weekly payroll. Use the tax withholding table in Illustration 13.8 in the text for federal income tax withholdings. Since both employees have exceeded the $7,000 threshold for unemployment, no additional unemployment taxes are to be accrued or paid. (Round answers to 2 decimal places, eg. 15.25) Taxable Earnings Gross Pay Cumulative Earnings Social Security Medicare 450 10560 29.76 780 11440 48.36 1260 S 22000 S 78 12 S 11 Prepare a payroll register for the hypothetical weekly payroll. Use the tax withholding table in illustration 138 in the text for federal income tax withholdings. Since both employees have exceeded the $7,000 threshold for unemployment, no additional unemployment taxes are to be accrued or paid. (Round answers to 2 decimal places, os. 15.25) Cookie Creations Payroll Register For the Week ending ngs Deductions Medicare FICA Federal Income Tax State Income Tax 6.96 36.72 576 1131 59.67 936 18.27 96.39 1512 Prepare a payroll register for the hypothetical weekly payroll. Use the tax withholding table in Illustration 13.8 in the text for federal income tax withholdings. Since both employees have exceeded the $7.000 threshold for unemployment, no additional unemployment taxes are to be accrued or paid. (Round answers to 2 decimal places es. 15.25.) Inited Fund Total Net Pay I Salaries and Wages Expense 576 366.48 936 DIE 595.53 1512 96201
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