Business, 02.06.2020 18:57 holmesleauja

Ashley Robertson works for MRK all year and earns a monthly salary of $ 11,900. There is no overtime pay. Ashley's income tax withholding rate is 20 % of gross pay. In addition to payroll taxes, Ashley elects to contribute 2% monthly to United Way. MRK also deducts $ 125 monthly for co-payment of the health insurance premium. As of September 30, Ashley had $ 107,100 of cumulative earnings.
Required:
1. Compute Ashley's net pay for October. (Round all amounts to the nearest cent.) Withholding deductions: Net (take-home) pay
2. Journalize the accrual of salaries expense and the payment related to the employment of Ashley Robertson.

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Answer from: erjalinalii

1. Compute Ashley's net pay for October.

Ashley's net pay = $11,900 - $2,380 - $238 - $125 - $737.80 - $172.55 = $8,246.65

2. Journalize the accrual of salaries expense and the payment related to the employment of Ashley Robertson.

Dr Wages expense 11,900

Dr FICA expense 910.35

Cr Federal income tax withholding payable 2,380

Cr United Way contribution payable 238

Cr Health insurance payable 125

Cr FICA Social Security withholding payable 737.80

Cr FICA Medicare withholding payable 172.55

Cr FICA Social Security tax payable 737.80

Cr FICA Medicare tax payable 172.55

Cr Wages payable 8,246.65

Dr Federal income tax withholding payable 2,380

Dr United Way contribution payable 238

Dr Health insurance payable 125

Dr FICA Social Security withholding payable 737.80

Dr FICA Medicare withholding payable 172.55

Dr FICA Social Security tax payable 737.80

Dr FICA Medicare tax payable 172.55

Dr Wages payable 8,246.65

Cr Cash 12,810.35

Explanation:

monthly salary $11,900

income tax withholding rate 20% = $11,900 x 20% = $2,380

union contribution 2% = $11,900 x 2% = $238

health insurance $125

cumulative earnings September 30, $107,100

FICA taxes:

social security 6.2% = $737.80

Medicare 1.45% = $172.55

no FUTA tax applies

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$527.7.if the following was the question $527.7 is the answer.students who are trying to raise funds have an agreement with a local pizza chain. the chain has agreed to sell them pizzas at a discount, which the students can then resell to families in the local community for a profit. it is expected that of the 500 families in the community, at most 70% will buy pizza. based on a survey of their personal preferences, the students believe that they should order no more than 120 cheese pizzas, no more than 150 pepperoni pizzas, and no more than 100 vegetarian pizzas. they also want to make sure that at least 20% of the total pizzas are cheese and at least 50% of the pizzas are pepperoni. they make a profit of $1.45, $1.75, and $1.98, respectively, for each cheese, pepperoni, and vegetarian pizza they resell. how many pizzas of each type should they buy?

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Ashley Robertson works for MRK all year and earns a monthly salary of $ 11,900. There is no overtime...

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