The following is a payroll sheet for Kingbird Imports for the month of September 2020. The company is allowed a 1% unemployment compensation rate by the state; the federal unemployment tax rate is 0.8% and the maximum for both is $7,000. Assume a 10% federal income tax rate for all employees and a 7.65% FICA tax on employee and employer on a maximum of $128,400. In addition, 1.45% is charged both employer and employee for an employee’s wages in excess of $128,400 per employee. (a) Complete the payroll sheet. (Round answers to 2 decimal places, e. g. 15.26.)
Unemployment Tax
Name Earnings to Aug. 31 September Earnings Income Tax Withholding FICA State Federal
B. D. Williams $6,700 $800 $ 80 $ $ $
D. Raye 6,500 700
70 K. Baker 7,500 1,100 110
F. Lopez 14,100 1,900 190
A. Daniels 118,000 13,700 1370
B. Kingston 123,300 17,100 1710
Total $ 162400 $ 35300 $ 3530 $ $ $