An employee has year-to-date earnings of $115,400. The employee’s gross pay for the next pay period is $5,000. If the FICA—OASDT is 6.2% and the wage base is $118,500, how much FICA—OASDI tax will be withheld from the employee’s pay? (Answer is rounded to the whole dollar.) $192 $210 $310 $73

Q: An employee's rate of pay is $36 per hour, with time-and-a-half for all hours worked in excess of 40…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: An employee earned $61,700 during the year working for an employer. The FICA tax rate for Social…

A: The employee has earned $ 61700 during the year

Q: Win-Win company’s first weekly pay period of the year ends on January 8. On that date, the column…

A: Wages: Wages are the earnings of the employees for their work to the company they serve. These are…

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A: Gross earnings = Regular earnings + Overtime earnings = (40 hours x $15 per hour) + (6 hours x $15…

Q: An employee's rate of pay is $36 per hour, with time-and-a-half for all hours worked in excess of 40…

A: Hey, since there are multiple questions posted, we will answer first three question. If you want any…

Q: The balance in the prepaid rent account before adjustment at the end of the year is $12,000, which…

A: Assets has debit balance and liabilities has credit balance. To increase Assets one should debit the…

Q: . This is the first payroll of the year and the employee has no cumulative earnings for the year to…

A: Calculation of Gross earnings :   Normal earnings $1,800.00 Bonus earnings $540.00 Gross earnings…

Q: CFG Company has the following employees: Wages Paid $ 16,000 3,500 25,000 Eddie Melanie Shelly CFG…

A: FUTA Taxes are payable @6% for First 7000 Wages. After 7000 Taxes are not applicable.   FUTA Taxes…

Q: An employee earned $62,500 during the year working for an employer. The FICA tax rate for Social…

A: Federal Unemployment Tax Act (FUTA): The federal unemployment tax is welfare scheme of a social…

Q: Tavella Company’s first weekly pay period of the year ends on January 8. On that date, Tavella’s…

A: Every transaction should be recorded in the books of accounts in the form of Journal entry. Each…

Q: An employee has a gross monthly salary of $1,000. In September the tax deducted was $200, the…

A: The income statement is the one in which all the revenues and expenses of the company are reported…

Q: 2. One of your employees receives an annual salary of $83,500. The only deductions from his…

A: CPP contribution refer to the contributions made by the employees and employers of Canada towards…

Q: An employee receives an hourly rate of $32.00, with time and a half for all hours worked in excess…

A: Payroll taxes are taxes imposed on employers or employees and are usually calculated as a percentage…

Q: An employee earns $44 per hour and 1.75 times that rate for all hours in excess of 40 hours per…

A:

Q: An employee earns $40 per hour and 1.5 times that rate for all hours in excess of 40 hours per week.…

A: The answer is as fallows

Q: An employee receives an hourly rate wage of $24, with time and a half for All hours worked in excess…

A: In this case, we have to deduct all the withheld income tax, Social Security tax & Medicare tax…

Q: An employee earns $32 per hour and 1.75 times that rate for all hours in excess of 40 hours per…

A: Gross pay is the total  amount earned by employee inclusive all taxes and deductions. Net pay is the…

Q: An employee earns $36 per hour and 1.5 times that rate for all hours in excess of 40 hours per week.…

A: The following calculations are done to evaluate the net pay of the employee after deducting all…

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A: Gross pay: It is an income calculated by multiplying the total hours worked with the basic hourly…

Q: An employee receives an hourly wage rate of $23, with time-and-a-half for all hours worked in excess…

A: Definition: The net amount payable to the employee is the amount paid net of taxes. It is calculated…

Q: An employee is paidba salary of $11,050 per month. If the current FICA rate is 6.2% on the first…

A: Medicare tax: Medicare tax can be defined as the amount of tax that is withheld by the employer form…

Q: An employee earns $25 per hour and 2 times that rate for all hours in excess of 40 hours per week.…

A: Payroll accounting involves records of calculation, recording and analysis of employees compensation…

Q: An employee receives an hourly wage rate of $18, with time and a half for all hours worked in excess…

A: The net amount payable to the employee is the amount paid net of taxes. It is calculated as follows:…

Q: Thomas Longbow is the only employee of Presido, Incorporated During the first week of January,…

A: Amount of Employee Payroll Check= Income Earned  - Federal and State withholding tax  - FICA…

Q: An employee receives an hourly rate of $22, with time and a half for all hours worked in excess of…

A: The entire amount of fixed earnings earned during a specific time period is referred to as a…

Q: The current FUTA tax rate is 0.6%, and the SUTA tax rate is 5.4%. Both taxes are applied to the…

A: Tax refers to the amount charged by the government from the individuals and organizations on the…

Q: An employee receives an hourly rate of $25.00, with time and a half for all hours worked in excess…

A: Given the following information: An employee receives an hourly rate of $25.00 with time and a half…

Q: An employee receives an hourly rate of $17, with time and a half for all hours worked in excess of…

A: Gross pay = ($17 x 40 hours+ $17*1.5 x 9 hours) = $909.50

Q: Sunland Hardware has four employees who are paid on an hourly basis plus time-and-a-half for all…

A: Journal is the recording of financial transactions which ahead help in preparing the ledgers, trial…

Q: Employee AA is paid monthly. For the month of January, she earned a total of $8,260. The tax for…

A: . Employee AA’s net pay for the month is: $6302.94  explanation :  The computation of net pay is…

Q: An employee receives an hourly wage rate of $25, with time and a half for all hours worked in excess…

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Q: An employee earns $40 per hour and 1.5 times that rate for all hours in excess of 40 hours per week.…

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Q: During the first week of February, Gabe Hopen earned $300.  Assume that FICA taxes are 7.65 percent…

A: FICA Taxes payable= $300 x 7.65% = $22.95 State unemployment taxes payable= $300 x 5% = $15.00…

Q: An employee receives an hourly wage rate of $18, with time and a half for all hours worked in excess…

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Q: During 20--, Rachael Parkins, president of Mathieson Company, was paid a semimonthly salary of…

A: In the United States, the Social Security(OASDI) and Medicare tax programs limit the amounts of…

Q: An employee earns $24 per hour and 1.5 times that rate for all hours in excess of 40 hours per week.…

A: Social security tax will be charged on gross pay  Medicare tax will be charged on gross pay

Q: An employee earned $62,500 during the year working for an employer. The FICA tax rate for Social…

A: Step 1 The unemployment taxes (FUTA) of $42 is obtained by multiplying the earnings of $7,000 with…

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Q: An employee works 55 hours (55 - 40 were overtime hours) during a workweek in November of 2020. The…

A: SOLUTION TAXABLE INCOME IS THE MONEY THAT IS EARNED WHICH IS SUBJECTED TO TAXATION BY FEDERAL OR…

Q: Peyton Company's payroll for the year is $741,150. Of this amount, $472,770 is for wages paid in…

A: Federal income taxes are imposed in USA. The income tax is calculated by implementing tax rate which…

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Q: Empty Fields Company pays its salaried employees monthly on the last day of each month. The annual…

A: The maximum amount of income subject to the Social Security tax is $142,800.

Q: An employee receives a bi-weekly gross salary of $2,000. The employee’s deductions include income…

A: calculation of the amount of salaries and employee benefit expenses - gross salary received by the…

Q: The following is a payroll sheet for Otis Imports for the month of September 2020. The company is…

A: a.Payroll sheet:

Q: An employee receives an hourly wage rate of $16, with time and a half for all hours worked in excess…

A: Gross pay= Hours worked during week * wage rate + extra hours worked* Higher wage rate…

Q: An employee earns $40 per hour and 1.75 times that rate for all hours in excess of 40 hours per…

A: Gross pay = Regular pay + OvertimeNet pay = Gross pay - Federal taxes withheld - Taxes payable

Q: An employee earned $60,700 during the year working for an employer. The Federal Insurance…

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Q: Swifty Hardware has four employees who are paid on an hourly basis plus time-and-a-half for all…

A: Working: