Payroll Records for Selected Employees of Tomco Industries for the Forty-Sixth

question 47

Essay

Payroll records for selected employees of Tomco Industries for the forty-sixth week of the year are as follows: Employees are paid time-and-a-half for overtime.
Employer payroll tax rates are as follows:
FICA: 8% of first $100,000 of salary or wages
FUTA: 1% of first $8,000 of salary or wages
SUTA: 4% of first $8,000 of salary or wages
Calculate:
(a)Total gross payroll for the selected employees.
(b)Total employer payroll taxes for the selected employees.

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Definitions:

Acculturation

The process of cultural change and psychological change that results following meeting between cultures, where individuals adopt the cultural traits or social patterns of another group.

Religiosity

The intensity of religious feelings or commitment.

Economic Support

Financial assistance or resources provided to individuals, organizations, or economies to promote stability and growth.

Acculturated

The process of adopting the cultural traits or social patterns of another group, often the dominant one.