Welstead Company has the following data for the weekly payroll ending January 31. Employees are paid 112

Welstead Company has the following data for the weekly payroll ending January 31.

Employees are paid 11⁄2 times the regular hourly rate for all hours worked in excess of 40 hours per week. FICA taxes are 7.65% on the first $106,800 of gross earnings and 1.45% in excess of $106,800. Welstead Company is subject to 5.4% state unemployment taxes on the first $9,800 and 0.8% federal unemployment taxes on the first $7,000 of gross earnings.

Instructions
(a) Prepare the payroll register for the weekly payroll.
(b) Prepare the journal entries to record the payroll and Welstead's payroll taxexpense.

Transcribed Image Text:

Federal Income Tax Withholding Insurance Hours Hourly Rate $11 13 Health Employee W. Jeong C. Garrison 8 8 8 8 8 2 J. Buss M T T F S 8 8 9 8 10 3 S34 43 58 $18 15 15 8 10 8 8 9 0