60.1K

Verified Solution

Link Copied!

Requited information Exercise 9-13A (Static) Computation of net pay and payroll expense LO 9.5 [The follicaving infowmation applies to the guestions displayed below] The following information is avaliabke for the employees of Webber Packing Company for the first week of Janeiory. Year 1 , Week in Jaruary. Kayla's federal income tax withholding is equal to 15 percent of her gross pay Webber pays medical insurance of $50 per week for Kayla and contibutes $50 per week to a retilement plan for her. 2. Paula earns a weekly salaty of $1,600. Paula's federal income tax withholding is 18 percent of her gross poy Webber pays medical insurance of $80 per week for Paela and contributen $100 per week to a retirement plan for her, 3. Vacation pay is acciued at the rale of 2 hours per week (based on the regular pay rate) for Kayla and $60 per week for Pisula. Assume the Social Security tax tate is 6 percent on the first 5130.000 of salaties, and the Medicate tax rate is ts percent of total salaries. The state unemployment tax rate is 5.4 percent and the federal unemployment tax rate is 0.6 petcent of the first $1,000 of saliary for each empioyee. Exercise 9-13A (Static) Part c c. What is the total cost of compensation expense for the first week of Jartuary Year 1 for Webbei Compony? Note: Round the intermediote calculations and your final answer to 2 decimal ploces

Answer & Explanation Solved by verified expert

See Answer