The Summary of the Payroll for the Monthly Pay Period

question 83

Essay

The summary of the payroll for the monthly pay period ending July 15 indicated the following:
$\begin{array}{ll}\$ 125,000 & \text { Saless salaries } \\32,300 & \text { Federal income tax withheld } \\35,000 & \text { Office salaries } \\7,370 & \text { Medical insurance withheld } \\10,200 & \text { Social security tax withheld } \\2,550 & \text { Medicare tax withheld }\end{array}$ Journalize the entries to record (a) the payroll and (b) the employer's payroll tax expense for the month. The state unemployment tax rate is 3.1%, and the federal unemployment tax rate is 0.8%. Only $25,000 of salaries are subject to unemployment taxes.

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Definitions:

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A measure of an individual's well-being and happiness, often considering factors like health, comfort, leisure, and economic circumstances.

Facility Locations

The strategic placement of business operations, warehouses, and production sites to optimize efficiency and costs.

Work Force

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