Question
An employee's rate of pay is $40.00 per hour, with time and a half for all hours worked in excess of 40 during a week. The following data are available:
Allowances claimed on W-4 4
Allowance amount allowed:$70 ea.
Hours worked this week 50
Y T D Earnings prior 105,200
F I T Withheld $ ??
Social Security tax was withheld @ the rate of 6.2% on the 1st $ 106,400
Medicare tax was withheld @ the rate of 1.45 %
Allowances claimed on W-4 4
Allowance amount allowed:$70 ea.
Hours worked this week 50
Y T D Earnings prior 105,200
F I T Withheld $ ??
Social Security tax was withheld @ the rate of 6.2% on the 1st $ 106,400
Medicare tax was withheld @ the rate of 1.45 %
Answers
annette
Kipley Company is a small manufacturing firm located in Pittsburgh, Pennsylvania. The company has a workforce of both hourly and salaried employees. Each employee is paid for hours actually worked during each week, with the time worked being recorded in quarter-hour increments. The standard workweek consists of 40 hours, with all employees being paid time and one-half for any hours worked beyond the 40 regular hours.
Below is the payroll register for unemployment taxes (FUTA and SUTA) for the pay of January 14.
Below is the payroll register for unemployment taxes (FUTA and SUTA) for the pay of January 14.