Amount Subject to Payroll Taxes Unemployment Tax Wages Due Payroll Factory Sales

Question

Amount Subject to Payroll Taxes Unemployment Tax Wages Due Payroll Factory Sales Adrninistrative FICA Federal State $42,500 4,300 $122,900 122,900 30,500 35,100 $188,500 188,500 $42,500 30,500 4,300 35,100 Total $46,800 $46,800 At this polnt in the year, some employees have already received wages in excess of those to which payroll taxes apply. Assume that the state unemployment tax is 2.5%. The FICA rate is 7.65% on an employee's wages to?118,500 and 1.45% in excess of $118,500. Of the $188,500 wages subject to FICA tax, 21,800 of the sales wages is in excess of 118,500. Federal unemployment tax rate is 0.8% atter credits. Income tax withheld amounts to $14,900 for factory, $6,300 for sales, and $5,300 for administrative Prepare a schedule showing the employer's total cost of wages for November by function. (Round answers to o decimal places, e.g. 5,275.) Factory Sales Administrative Total Salaries and Wages FICA Taxes FUTA Taxes SUTA Taxes Total Cost

Explanation / Answer

Factory Sales Administrative Total Wages 122900 30500 35100 188500 FICA Wages*7.65% 9402 2333 2685 14420 Federal UC 42500*.8%,4300*.8% 340 34 0 1103 State UC 42500*2.5%,4300*2.5% 1063 108 0 84 Total 133704 32975 37785 204108

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