Business, 20.09.2020 14:01 Jasten

Blossom Hardware payroll for November 2020 is summarized below. Amount Subject to Payroll Taxes Unemployment TaxPayroll Wages Due FICA Federal StateFactory $121,300 $121,300 $36,400 $36,400Sales 34,200 34,200 3,800 3,800Administrative 32,700 32,700 Total $188,200 $188,200 $40,200 $40,200At this point 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 $128,400 and 1.45% in excess of $128,400. Of the $188,200 wages subject to FICA tax, $22,000 of the sales wages is in excess of $128,400. Federal unemployment tax rate is 0.8% after credits. Income tax withheld amounts to $15,200 for factory, $6,900 for sales, and $6,000 for administrative.1. Prepare a schedule showing the employer's total cost of wages for November by function. Factory Sales Administrative Salaries and Wages FICA Taxes FUTA Taxes SUTA Taxes Total Cost 2. Prepare the journal entries to record the factory, sales, and administrative payrolls including the employer's payroll taxes.

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Blossom Hardware payroll for November 2020 is summarized below. Amount Subject to Payroll Taxes Unem...

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