Need help with accounting Macler Company completed the salary and wage payroll for March. The payroll provided the following detallss 200,0002,5eRequired:1 Considering both employee and employer payroll taxes. use the preceding Information to calculate the total labour cost for thecompany. TIP: Employer CPRP equals employee CPP. Employer El equals 1.4 times employee El.Total labour cost326,5502 Prepare the Journal entry to record the payroll for March, Including employee deductions but excluding employer payroll taxes. (If roentry Is requred for a transaction/event, select No journal entry requlred" In the first account field.)Vlew trannacton ilelJournal entry worksheetRecond the payroll for march including employee deductions but excludingemployer payroll taxes.INote: Enter debits berare creditsDateGeneral JournalDebit.CreditT March 31, 3. Prepare the journal entry to record the employer's CPP and El contributons. (If no entry is required for a transaction/event, select"No.journal entry required" In the first account field.)Vow tranuaction listJournal entry worksheet台灣券Record employer payroll taxes on march payroll.DateGeneral Jourmal.DebitCreditMarch 31Record entryClear entry

Macler Company completed the salary and wage payroll for March. The payroll provided the following detals: Salaries and wages earned Employee Income taxes withheld Canada Pension Plan Employment Insurance $ 230,000 se,200 2,500 750 equired: Considering both employee and employer payroll taxes, use the preceding Information to calculate the total labour cost for the ompany. TIP: Employer CPP equals employee CPP. Employer El equals 1.4 times employee El. Total labour cost 326,550

Macler Company completed the salary and wage payroll for March. The payroll provided the following detals: Salaries and wages earned Employee Income taxes withheld Canada Pension Plan Employment Insurance $ 230,000 se,200 2,500 750 equired: Considering both employee and employer payroll taxes, use the preceding Information to calculate the total labour cost for the ompany. TIP: Employer CPP equals employee CPP. Employer El equals 1.4 times employee El. Total labour cost 326,550

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter3: Accounting For Labor

Section: Chapter Questions

Problem 12E: A weekly payroll summary made from labor time records shows the following data for Pima Company:...

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An analysis of the payroll for the month of November for CinMar Inc. reveals the information shown: All regular time Andrews, Lomax, and Herzog are production workers, and Dimmick is the plant manager. Hendrick is in charge of the office. Cumulative earnings paid (before deductions) in this calendar year prior to the payroll period ending November 8 were as follows: Andrews, 21,200; Lomax, 6,800; Herzog, 11,500; Dimmick, 116,200; and Hendrick, 32,800. The solution to this problem requires the following forms, using the indicated column headings: 1. Prepare an employee earnings record for each of the five employees. 2. Prepare a payroll record for each of the four weeks. 3. Prepare a labor cost summary for the month. 4. Prepare journal entries to record the following: a. The payroll for each of the four weeks. b. The payment of wages for each of the four payrolls. c. The distribution of the monthly labor costs per the labor cost summary. d. The company's payroll taxes covering the four payroll periods.
In the space provided below, prepare the journal entry to record the November payroll for all employees assuming that the payroll is paid on November 30 and that Joness cumulative gross pay (cell I13) is 85,000.
The total wages and salaries earned by all employees of Langen Electronics, Ltd. during March, as shown in the labor cost summary and the schedule of fixed administrative and sales salaries, are classified as follows: a. Prepare a journal entry to distribute the wages earned during March. b. What is the total amount of payroll taxes that will be imposed on the employer for the payroll, assuming that two administrative employees with combined earnings this period of 3,000 have exceeded 8,000 in earnings prior to the period?
The totals line from Nix Companys payroll register for the week ended March 31, 20--, is as follows: Payroll taxes are imposed as follows: Social Security tax, 6.2%; Medicare tax, 1.45%; FUTA tax, 0.6%; and SUTA tax, 5.4%. REQUIRED 1. a. Prepare the journal entry for payment of this payroll on March 31, 20--. b. Prepare the journal entry for the employers payroll taxes for the period ended March 31, 20--. 2. Nix Company had the following balances in its general ledger before the entries for requirement ( 1 ) were made: a. Prepare the journal entry for payment of the liabilities for federal income taxes and Social Security and Medicare taxes on April 15, 20--. b. Prepare the journal entry for payment of the liability for FUTA tax on April 30, 20--. c. Prepare the journal entry for payment of the liability for SUTA tax on April 30, 20--.
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On January 21, the column totals of the payroll register for Great Products Company showed that its sales employees had earned 14,960, its truck driver employees had earned 10,692, and its office employees had earned 8,670. Social Security taxes were withheld at an assumed rate of 6.2 percent, and Medicare taxes were withheld at an assumed rate of 1.45 percent. Other deductions consisted of federal income tax, 3,975, and union dues, 560. Determine the amount of Social Security and Medicare taxes withheld and record the general journal entry for the payroll, crediting Salaries Payable for the net pay. All earnings were taxable. Round amounts to the nearest penny.
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Wallace Corporation summarizes the following information from its weekly payroll records during April. Prepare the two journal entries to record the payment of the payroll and the accrual of its payroll taxes for April. Assume an 8% FICA rate for both employees and the employer. Also assume a 5.4% state unemployment tax rate, a 0.6% federal unemployment tax rate, and that all wages are subject to all payroll taxes. Round to the nearest dollar.