Arod the mairicits Employee income tax Medicare tax OASDI tax Overtime pay for 10 hours...
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Arod the mairicits Employee income tax Medicare tax OASDI tax Overtime pay for 10 hours Straight-time pay for 40 hours For all payroll calculations, use the following tax rates and round amounts to the nearest cent: Employee: OASDI: 6.2% on first $132,900 earned; Medicare: 1.45% up to $200,000,2.35% on earnings above $200,000. Employer: OASDI: 6.2% on first $132,900 earned; Medicare 1.45%; FUTA: 06% on first $7,000 earned; SUTA: 5.4% on first $7,000 earned. Requirements 1. Compute Sully's gross pay and net pay for the week Assume earnings to date are $16,000. 2. Journalize Frosty World's wages expense accrual for Sully's work. An explanation is not required. 3. Journalize the subsequent payment of wages to Sully
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