Answer:
1. We have:
Payroll subject to the federal unemployment taxes = $22,000
Payroll subject to the state unemployment taxes = $22,000
2. Total payroll = $820,000
3. FICA taxes in payroll = $61,500
Explanation:
Note: The data in this question are merged together. They are therefore sorted before answering the question. See the attached pdf file for the complete question with the sorted data.
The explanation of the answers is now provided as follows:
1. Determine the payroll amount subject to federal and state unemployment taxes in this payroll.
Payroll subject to the federal unemployment taxes = Federal unemployment tax payable / Federal unemployment tax rates = 176 / 0.8% = $22,000
Payroll subject to the state unemployment taxes = State unemployment tax payable / State unemployment tax rates = 1,188 / 5.4% = $22,000
2. What is the total payroll for Copperfield and Company shown in these journal entries?
Total payroll = Salaries Expense + Wages Expense = 647,800 + $172,200 = $820,000
3. What is Copperfield and Company’s share of FICA taxes in this payroll?
FICA taxes in payroll = Social security tax payable + Medical tax payable = $49,200 + 12,300 = $61,500
