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Accounting Employee Payroll: The following information is for employee Mary Ryan for the week ended March 15. (a)Determine (1) total earnings, (2) total deductions, and (3) cash paid.

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The following information is for employee Mary Ryan for the week ended March 15.

Total hours worked: 48

Rate: $15 per hour, with double time for all hours in excess of 40

Federal income tax withheld: $200

United Fund deduction: $50

Cumulative earnings prior to current week: $6,400

Tax rates:

Social security: 6% on maximum earnings of $100,000.

Medicare tax: 1.5% on all earnings; on both employer and employee

State unemployment: 3.4% on maximum earnings of $7,000; on employer

Federal unemployment: 0.8% on maximum earnings of $7,000; on employer

(a)Determine (1) total earnings, (2) total deductions, and (3) cash paid.

(b)Determine each of the employer's payroll taxes related to the earnings of Mary Ryan for the week ended March 15.

A.

1: Total Earnings =
2. Total Deductions =
3. Cash Paid =

B.

1. Social Security & Medicare Taxes =
2. State Unemployment Tax =
3. Federal Unemployment Tax =
4. Total =

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Solution Summary

Your tutorial contains:
A - Statement of Total earnings, deductions and cash paid

B - Employer's liability for taxes :
1 Social security & Medicare
2 State unemployment tax
3 Federal unemployment tax.

Detailed calculations are provided in support of figures of deductions worked out.

Solution Preview

Please see the attached file.

A - Statement of Total earnings, ...

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