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Math HW11 - Research Paper Example

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Summary
Guyer Company publishes a monthly sports magazine, Fishing Preview. Subscriptions to the magazine cost $20 per year. During November 2008, Guyer sells 12,000 subscriptions beginning with the December issue. Guyer prepares financial statements quarterly and recognizes subscription revenue earned at the end of the quarter…
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Math HW11

Download file to see previous pages... Management estimates that the average cost of replacing or repairing a defective unit is $20. The units sold and units defective that occurred during the last 2 months of 2008 are as follows.
Joyce Kieffer's regular hourly wage rate is $15, and she receives a wage of 1 times the regular hourly rate for work in excess of 40 hours. During a March weekly pay period Joyce worked 42 hours. Her gross earnings prior to the current week were $6,000. Joyce is married and claims three withholding allowances. Her only voluntary deduction is for group hospitalization insurance at $25 per week.
Compute the following amounts for Joyce's wages for the current week. (1) Gross earnings. (2) FICA taxes. (Assume an 8% rate on maximum of $90,000.) (3) Federal income taxes withheld. (Use the withholding table in the text, page 483.) (4) State income taxes withheld. (Assume a 2.0% rate.) (5) Net pay. (Round answers to 2 decimal places.)
According to a payroll register summary of Ruiz Company, the amount of employees' gross pay in December was $850,000, of which $90,000 was not subject to FICA tax and $750,000 was not subject to state and federal unemployment taxes. ...Download file to see next pagesRead More
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