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The payroll records of a company provided the following data for the weekly pay period ended December 7:
The FICA social security tax rate is 6.2% and the FICA Medicare tax rate is 1.45% on all of this week's wages paid to each employee.The federal and state unemployment tax rates are 0.8% and 5.4%,respectively,on the first $7,000 paid to each employee.Prepare the journal entries to (a)accrue the payroll and (b)record payroll taxes expense.
Strike Replacements
Workers hired by an employer to perform the duties of striking employees during a labor strike.
Bargaining Unit
A group of employees with a clear and identifiable community of interests who are represented by a single labor union in collective bargaining.
Industrial Unionism
A labor union organizing method where all workers in the same industry are unified into a single union, regardless of their specific trades or professions.
Social Unionism
A form of unionism focused on broader societal issues beyond workplace concerns, including social justice, environmental sustainability, and community welfare.
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