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The form below shows the amounts that appear in the Earnings to Date column of the employees' earnings records for 10 full- and part-time workers in Unger Company. These amounts represent the cumulative earnings for each worker as of October 4, the company's last payday. The form also gives the gross amount of earnings to be paid each worker on the next payday, October 11. In the state where Unger Company is located, the tax rates and bases are as follows: Tax on Employees: FICA-OASDI 6.2% on first s137,700 FICA-HI 1.45% on total earnings SUTA 0.5% on first s8,000 Tax on Employer: FICA-OASDI 6.2% on first $137,700 FICA-HI 1.45% on total earnings FUTA 0.6% on first $7,000 SUTA 1.8% on first s8,000

The form below shows the amounts that appear in the Earnings to Date column of the employees' earnings records for 10 full- and part-time workers in Unger Company. These amounts represent the cumulative earnings for each worker as of October 4, the company's last payday. The form also gives the gross amount of earnings to be paid each worker on the next payday, October 11. In the state where Unger Company is located, the tax rates and bases are as follows: Tax on Employees: FICA-OASDI 6.2% on first s137,700 FICA-HI 1.45% on total earnings SUTA 0.5% on first s8,000 Tax on Employer: FICA-OASDI 6.2% on first $137,700 FICA-HI 1.45% on total earnings FUTA 0.6% on first $7,000 SUTA 1.8% on first s8,000

PAYROLL ACCT.,2019 ED.(LL)-TEXT
PAYROLL ACCT.,2019 ED.(LL)-TEXT
19th Edition
ISBN:9781337619783
Author:BIEG
Publisher:BIEG
Chapter5: Unemployment Compensation Taxes
Section: Chapter Questions
Problem 5PA
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Figure 6.1 The form below shows the amounts that appear in the Earnings to Date column of the employees' earnings records for 10 full- and part-time workers in Unger Company. These amounts represent the cumulative earnings for each worker as of October 4, the company's last payday. The form also gives the gross amount of earnings to be paid each worker on the next payday, October 11. In the state where Unger Company is located, the tax rates and bases are as follows: Tax on Employees: FICA-OASDI 6.2% on first $137,700 FICA-HI 1.45% on total earnings SUTA 0.5% on first $8,000 Tax on Employer: FICA-OASDI 6.2% on first $137,700 FICA-HI 1.45% on total earnings FUTA 0.6% on first $7,000 SUTA 1.8% on first $8,000
Transcribed Image Text:Figure 6.1 The form below shows the amounts that appear in the Earnings to Date column of the employees' earnings records for 10 full- and part-time workers in Unger Company. These amounts represent the cumulative earnings for each worker as of October 4, the company's last payday. The form also gives the gross amount of earnings to be paid each worker on the next payday, October 11. In the state where Unger Company is located, the tax rates and bases are as follows: Tax on Employees: FICA-OASDI 6.2% on first $137,700 FICA-HI 1.45% on total earnings SUTA 0.5% on first $8,000 Tax on Employer: FICA-OASDI 6.2% on first $137,700 FICA-HI 1.45% on total earnings FUTA 0.6% on first $7,000 SUTA 1.8% on first $8,000
In the appropriate columns of the form shown below, do the following: 1. Compute the amount to be withheld from each employee's earnings on October 11 for (a) FICA-OASDI, (b) FICA-HI, and (c) SUTA, and determine the total employee taxes. 2. Record the portion of each employee's earnings that is taxable under FICA, FUTA, and SUTA, and calculate the total employer's payroll taxes on the October 11 payroll. If an amount box does not require an entry, leave it blank. If required, round your answers to the nearest cent. Enter the tax rates as decimals, carried out to four decimal places when required. UNGER COMPANY Taxes to Be Withheld from Employer Taxes: Portion of Employees' Gross Employees' Earnings Under Earnings Taxable Under Earnings to Earnings FICA FICA Employee Date Oct. 11 OASDI HI SUTA OASDI HI FUTA SUTA 1. Weiser, Robert A. $138,680 $2,080 30.16 $ 2. Stankard, Laurie C. 15,045 310 19.22 4.50 3. Grow, Joan L. 4,070 230 14.26 3.34 1.15 4. Rowe, Paul C. 8,135 210 13.02 3.05 5. McNamara, Joyce M. 7,425 150 9.3 2.18 0.75 6. O'Connor, Roger T. 137,570 1,670 103.54 24.22 7. Carson, Ronald B. 8.860 290 17.98 4.21 8. Kenny, Ginni C. 4,385 190 11.78 2.76 0.95 9. Devery, Virginia S. 57,110 625 38.75 9.06 10. Wilson, Joe W. 3.645 235 14.57 3.41 1.18 Total employee taxes Total taxable earnings Applicable tax rate (enter as decimals, not percentages) Totals Total payroll taxes
Transcribed Image Text:In the appropriate columns of the form shown below, do the following: 1. Compute the amount to be withheld from each employee's earnings on October 11 for (a) FICA-OASDI, (b) FICA-HI, and (c) SUTA, and determine the total employee taxes. 2. Record the portion of each employee's earnings that is taxable under FICA, FUTA, and SUTA, and calculate the total employer's payroll taxes on the October 11 payroll. If an amount box does not require an entry, leave it blank. If required, round your answers to the nearest cent. Enter the tax rates as decimals, carried out to four decimal places when required. UNGER COMPANY Taxes to Be Withheld from Employer Taxes: Portion of Employees' Gross Employees' Earnings Under Earnings Taxable Under Earnings to Earnings FICA FICA Employee Date Oct. 11 OASDI HI SUTA OASDI HI FUTA SUTA 1. Weiser, Robert A. $138,680 $2,080 30.16 $ 2. Stankard, Laurie C. 15,045 310 19.22 4.50 3. Grow, Joan L. 4,070 230 14.26 3.34 1.15 4. Rowe, Paul C. 8,135 210 13.02 3.05 5. McNamara, Joyce M. 7,425 150 9.3 2.18 0.75 6. O'Connor, Roger T. 137,570 1,670 103.54 24.22 7. Carson, Ronald B. 8.860 290 17.98 4.21 8. Kenny, Ginni C. 4,385 190 11.78 2.76 0.95 9. Devery, Virginia S. 57,110 625 38.75 9.06 10. Wilson, Joe W. 3.645 235 14.57 3.41 1.18 Total employee taxes Total taxable earnings Applicable tax rate (enter as decimals, not percentages) Totals Total payroll taxes
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