West Industries has a gross payroll of $18,000. Employees' share of FICA taxes is $1,377 (i.e., 7.65% of gross payroll). Employees' federal and state withholding are $1,600 and $950, respectively. West Industries' share of FICA taxes is also $1,377. In addition, West Industries incurs federal unemployment taxes of $110 and state unemployment taxes of  $925. Compute West Industries' net payroll.

The employees' share of FICA taxes and employees' federal and state withholding are expenses to the employer.

A company has total payments for the month of March for its 20 employees of $100,000. The FICA tax rate (Social Security and Medicare) is 7.65%. What is the total amount due to the government for FICA taxes?Multiple Choice$13,850$7,650$27,650$15,300

How are the taxes calculated on a payroll?

During January, Luxury Cruise Lines incurs employee salaries of $1.1 million. Withholdings in January are $84,150 for the employee portion of FICA, and $233,750 for employee federal and state. The company incurs an additional $68,200 for federal and state unemployment tax and $33,000 for the employer portion of health insurance (fringe benefits payable to Blue Cross Blue Shield).Required:1. to 3. Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in dollars, not in millions (i.e. 5 million should be entered as 5,000,000).)

During January, Luxury Cruise Lines incurs employee salaries of $1.9 million. Withholdings in January are $145,350 for the employee portion of FICA, and $403,750 for employee federal and state. The company incurs an additional $117,800 for federal and state unemployment tax and $57,000 for the employer portion of health insurance (fringe benefits payable to Blue Cross Blue Shield).Required:1. to 3. Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in dollars, not in millions (i.e. 5 million should be entered as 5,000,000).)