Question

VERSIONBACK Exercise 11-11 Ramirez Company has the following data for the weekly payroll ending January 31 Hourly Federal Income Health Employee M T w T F S Rate Tax LHeton 87981| 2 S12 IR,Kenseth 7 9 7 7 84 14 $11 25 uey D. Tavaras 908 95 57 Employees are paid 1.5 times the reguiar hourly rate for all hours worked in excess of 40 houns per week FICA taxes are 7.65% Ramirez Company is subject to S4% state nemployment taves and eas esera unemploy et taln the et the nrst $117,000 ofgross_gs. Prepare the payroll register for the weekly payroll. (Round answers to 2 decimal places, e.g. 15.2s) Payrel Register For the Week Ending January 3 Employee Tolal Hours Regular Overtime Gross Pay FICA TaxesFederal Income kuzy command option 4 tion command

Answer 1

Answer a.
RAMIREZ COMPANY
Payroll Register
For the Week Ending Jan 31
Employee	Total Hours	Earnings			Deductions				Net Pay
		Regular	Overtime	Gross Pay	FICA Taxes	Federal Income Tax	Health Insurance	Total
L. Helton	45.00	480.00	90.00	570.00	43.61	34.00	11.00	88.61	481.40
R. Kenserth	42.00	560.00	42.00	602.00	46.05	38.00	25.00	109.05	492.95
D. Tavaras	44.00	600.00	90.00	690.00	52.79	57.00	26.00	135.79	554.22
Total		1,640.00	222.00	1,862.00	142.44	129.00	62.00	333.44	1,528.56

Answer b.
Journal Entry
Date	Particulars	Dr. Amt.	Cr. Amt.
31-Jan	Salaries & Wages Expense	1,862.00
	FICA Taxes Payable		142.44
	Federal Income Taxes Payable		129.00
	Health Insurance Payable		62.00
	Salaries & Wages Payable		1,528.56
	(To record the payroll)
31-Jan	Payroll Taxes	257.89
	FICA Taxes Payable		142.44
	FUTA Payable		14.90	$1,862 X 0.80%
	SUTA Payable		100.55	$1,862 X 5.40%
	(To record the payroll taxes)