Question

Check my w On January 8, the end of the first weekly pay period of the year, Regis Company's payroll register showed that its employees earned $27.760 of office salaries and $70.840 of sales salaries. Withholdings from the employees salaries include FICA Social Security taxes at the rate of 6 20% FICA Medicare taxes at the rate of 145%, $13,560 of federal income taxes, $1,330 of medical insurance deductions, and $800 of union dues. No employee earned more than $7,000 in this first period Required: 11 Calculate below the amounts for each of these four taxes of Regis Company Regis's merit rating reduces its state unemployment tax rate to 2% of the first $7,000 paid each employee. The federal unemployment tax rate is 0.60%, (Round your answers to 2 decimal places.) Regis Company's Tax January 8 earnings subiect to tax Tax Rate Tax Amount FICA-Social Security FICA-Medicare FUTA SUTA

Answer 1

Regis Company Regis Company's: Tax FICA-Social Security FICA-Medicare FUTA SUTA January 8 earnings subject to tax Tax Rate Tax Amount 98600 6.20% 6113.20 98600 1.45% 1429.70 98600 0.60% 591.60 98600 2% 1972.00 70840 +27760 = 98600