Windsor Hardware's payroll for November is summarized below. Amount Subject to Payroll Taxes Unemployment Tax Payroll...

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Windsor Hardware's payroll for November is summarized below. Amount Subject to Payroll Taxes Unemployment Tax Payroll Wages Due FICA Federal State Factory $120,000 $120,000 $41,000 $41,000 Sales 32,000 32,000 4,000 4,000 Administrative 38,000 38,000 Total $190,000 $190,000 $45,000 $45,000 At this point in the year, some employees have already received wages in excess of those to which payroll taxes apply. Assume that the state unemployment tax is 2.5%. The FICA rate is 7.65% on an employee's wages to $142,800 and 1.45% in excess of $142,800. Of the $190,000 wages subject to FICA tax, $22,000 of the sales wages is in excess of $142,800. Federal unemployment tax rate is 0.8% after credits. Income tax withheld amounts to $16,800 for factory, $7,700 for sales, and $6,800 for administrative. Prepare a schedule showing the employer's total cost of wages for November by function. Factory Wages $ Sales Administrative 120,000 $ 32,000 $ 38,000 $ FICA 9.180 1,084 2.907 Taxes Federal 3281 32 0 U.T. State 1,025 100 0 U.T. Total $ 130,533 $ 33,216 $ 40,907 $ Cost Total Payroll Tax Expense FICA Taxes Payable FUTA Taxes Payable SUTA Taxes Payable (To record employer payroll taxes) Sales Payroll: Salaries and Wages Expense Withholding Taxes Payable FICA Taxes Payable Wages Payable (To record salaries and wages paid and the employee payroll deductions) Payroll Tax Expense FICA Taxes Payable FUTA Taxes Payable 10500 32000 1340 9180 320 1000 7000 1208 23792 1208 32 Windsor Hardware's payroll for November is summarized below. Amount Subject to Payroll Taxes Unemployment Tax Payroll Wages Due FICA Federal State Factory $120,000 $120,000 $41,000 $41,000 Sales 32,000 32,000 4,000 4,000 Administrative 38,000 38,000 Total $190,000 $190,000 $45,000 $45,000 At this point in the year, some employees have already received wages in excess of those to which payroll taxes apply. Assume that the state unemployment tax is 2.5%. The FICA rate is 7.65% on an employee's wages to $142,800 and 1.45% in excess of $142,800. Of the $190,000 wages subject to FICA tax, $22,000 of the sales wages is in excess of $142,800. Federal unemployment tax rate is 0.8% after credits. Income tax withheld amounts to $16,800 for factory, $7,700 for sales, and $6,800 for administrative. Prepare a schedule showing the employer's total cost of wages for November by function. Factory Wages $ Sales Administrative 120,000 $ 32,000 $ 38,000 $ FICA 9.180 1,084 2.907 Taxes Federal 3281 32 0 U.T. State 1,025 100 0 U.T. Total $ 130,533 $ 33,216 $ 40,907 $ Cost Total Payroll Tax Expense FICA Taxes Payable FUTA Taxes Payable SUTA Taxes Payable (To record employer payroll taxes) Sales Payroll: Salaries and Wages Expense Withholding Taxes Payable FICA Taxes Payable Wages Payable (To record salaries and wages paid and the employee payroll deductions) Payroll Tax Expense FICA Taxes Payable FUTA Taxes Payable 10500 32000 1340 9180 320 1000 7000 1208 23792 1208 32