James Company has the following payroll information for the week ended December 18:
Taxable earnings for Social Security are based on the first $106,800. Taxable earnings for Medicare are based on all earnings. Taxable earnings for federal and state unemployment are based on the first $7,000. Employees are paid time-and-a-half for work in excess of 40 hours per week.
Instructions:

Question

James Company has the following payroll information for the week ended December 18:
  Taxable earnings for Social Security are based on the first $106,800. Taxable earnings for Medicare are based on all earnings. Taxable earnings for federal and state unemployment are based on the first $7,000. Employees are paid time-and-a-half for work in excess of 40 hours per week.
Instructions:

Quizplus · Accepted Answer

The Answer of James Company has the following payroll information for the week ended December 18:
  Taxable earnings for Social Security are based on the first $106,800. Taxable earnings for Medicare are based on all earnings. Taxable earnings for federal and state unemployment are based on the first $7,000. Employees are paid time-and-a-half for work in excess of 40 hours per week.
Instructions:

James Company Has the Following Payroll Information for the Week