A restaurant supply seller works for a 6% commission. If the total sales for the week were S 18,200, determine the gross income for this seller. 4. 5. Determine the Social Security contribution (6.2%) and the medical care contribution (1.45%) for an employee with a gross income of $ 515. Round to the nearest penny. 6. An employee has a net income of $ 880 and total deductions of $ 262, determines the gross income.
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- Marc Associates employs Janet Evanovich at its law firm. Her gross income for June is $7,500. Payroll for the month of June follows: federal income tax of $650, state income tax of $60, local income tax of $30, FICA Social Security tax rate at 6.2%, FICA Medicare tax rate at 1.45%, health-care insurance premium of $300, donations to a charity of $50, and pension plan contribution of $200. The employee is responsible for covering 40% of his or her health insurance premium. A. Record the journal entry to recognize employee payroll for the month of June; dated June 30, 2017. B. Record remittance of the employees salary with cash on July 1.Maria Cohen is employed as a salesperson in the mens department of Lees Fashions. In addition to her weekly base salary of 400 (35-hour week), Cohen is paid a commission of 1% on her total net sales for the week (total gross sales less any customer returns). During the past week, to promote the sale of its fine cashmere sweaters, Lees agreed to pay Cohen an additional PM (push money) of 3% of the total net sales of cashmere sweaters. Cohens weekly sales tally is given below. Compute Cohens total weekly earnings, showing her (a) weekly base salary, (b) commission, (c) PM, and (d) total weekly earnings.Joseph Flores is paid $452 per week plus a commission of 2% on all sales. Flores sold $712 worth of goods on Monday, $523 on Tuesday, $1002 on Wednesday, #91 on Thursday, and $609 on Friday. Returns and allowances for the week were $114. Find the employee’s social security tax, Medicare tax, and sate disability insurance deduction(1%) for the week.
- Toren Inc. employs one person to run its solar management company. The employee’s gross income for the month of May is $4,708. Payroll for the month of May is as follows: FICA Social Security tax rate at 6.2% FICA Medicare tax rate at 1.45% Federal income tax of $400 State income tax of $75 Health-care insurance premium of $152 Union dues of $50 The employee is responsible for covering 23% of his or her health insurance premium What is the net pay of the one employee for the month of May? Round to the nearest penny, two decimals.Redmont Company's gross salaries and wages are $50,000, and it withholds $7,500 for income taxes and $3,825 for FICA taxes, the journal entry to record the employees' pay should include a: Multiple Choice debit to Salaries and Wages Payable for $38,675. debit to Salaries and Wages Expense for $38,675. credit to Salaries and Wages Payable for $38,675. credit to Salaries and Wages Payable for $50,000.Toren Inc. employs one person to run its solar management company. The employee's gross income for the month of May is $8,000. Payroll for the month of May is as follows: FICA Social Security tax rate at 6.2%, FICA Medicare tax rate at 1.45%, federal income tax of $420, state income tax of $85, health-care insurance premium of $250, and union dues of $50. The employee is responsible for covering 30% of his or her health insurance premium. Toren Inc. have the following additional information: May is the first pay period for this employee. FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,800 paid to the employee. FICA Social Security and FICA Medicare match employee deductions. The employer is responsible for 70% of the health insurance premium. A. Record the employer payroll for the month of May, dated May 31, 2017. If an amount box does not require an entry, leave it blank. May 31 To recognize employer payroll…
- Toren Inc. employs one person to run its solar management company. The employee's gross income for the month of May is $8,000. Payroll for the month of May is as follows: FICA Social Security tax rate at 6.2%, FICA Medicare tax rate at 1.45%, federal income tax of $420, state income tax of $85, health-care insurance premium of $250, and union dues of $50. The employee is responsible for covering 30% of his or her health insurance premium. Toren Inc. have the following additional information: May is the first pay period for this employee. FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,800 paid to the employee. FICA Social Security and FICA Medicare match employee deductions. The employer is responsible for 70% of the health insurance premium. Record the payment in cash of all employer liabilities only on June 1. Round your answers to the nearest whole dollar. If an amount box does not require an entry, leave it blank. June 1…Toren Inc. employs one person to run its solar management company. The employee's gross income for the month of May is $8,000. Payroll for the month of May is as follows: FICA Social Security tax rate at 6.2%, FICA Medicare tax rate at 1.45%, federal income tax of $420, state income tax of $85, health-care insurance premium of $250, and union dues of $50. The employee is responsible for covering 30% of his or her health insurance premium. Toren Inc. have the following additional information: May is the first pay period for this employee. FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,800 paid to the employee. FICA Social Security and FICA Medicare match employee deductions. The employer is responsible for 70% of the health insurance premium B. Record the payment in cash of all employer liabilities only on June 1. Round your answers to the nearest whole dollar. If an amount box does not require an entry, leave it blank. June 1…Toren Inc. employs one person to run its solar management company. The employee's gross income for the month of May is $8,000. Payroll for the month of May is as follows: FICA Social Security tax rate at 6.2%, FICA Medicare tax rate at 1.45%, federal income tax of $420, state income tax of $85, health-care insurance premium of $250, and union dues of $50. The employee is responsible for covering 30% of his or her health insurance premium. Toren Inc. have the following additional information: May is the first pay period for this employee. FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,800 paid to the employee. FICA Social Security and FICA Medicare match employee deductions. The employer is responsible for 70% of the health insurance premium. A. Record the employer payroll for the month of May, dated May 31, 2017. If an amount box does not require an entry, leave it blank. May 31 To…
- Toren Inc. employs one person to run its solar management company. The employee's gross income for the month of May is $16,000. Payroll for the month of May is as follows: FICA Social Security tax rate at 6.2%, FICA Medicare tax rate at 1.45%, federal income tax of $450, state income tax of $80, health-care insurance premium of $210, and union dues of $70. The employee is responsible for covering 30% of his or her health insurance premium. Toren Inc. have the following additional information: May is the first pay period for this employee. FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,700 paid to the employee. FICA Social Security and FICA Medicare match employee deductions. The employer is responsible for 70% of the health insurance premium. Question Content Area A. Record the employer payroll for the month of May, dated May 31, 2017. If an amount box does not require an entry, leave it blank. May 31 - Select - - Select - - Select - - Select -…The chief executive officer earns $10,020 per month. As of May 31, her gross pay was $50,100. The tax rate for Social Security is 6.2% of the first $128,400 earned each calendar year and the FICA tax rate for Medicare is 1.45% of all earnings. The current FUTA tax rate is 0.6%, and the SUTA tax rate is 5.4%. Both unemployment taxes are applied to the first $7,000 of an employee’s pay. What is the amount of FICA-Social Security withheld from this employee for the month of June?Richard Corp has the following data for the third week of December: Employee Name Classification Hours Worked Rate per Hour Kuhl Laborer 45 50 Aileen Office Secretary 46 45 Jose Laborer 50 52 Jay Factory Supervisor 55 48 Richmond Sales agent 52 60 Edward Laborer 48 45 The following are to be deducted from the gross earnings of employees: Withholding taxes - 5% Social Security System contributions - 3% Philippine Health Insurance - 1% Home Development Mutual Fund - 1% Richard Corp paid its employees one and half times the regular rate for hours worked in excess of 40 hours. a. How much is the gross payroll? b. How much is the amount charged to Work in Process? c. How much is the amount charged to manufacturing overhead? d. How much is the total amount charged to Selling and Administrative expenses?
