Business, 16.07.2020 04:01 christopherandp66l91

Aspen Ski Resorts has 100 employees, each working 40 hours per week and earning $20 an hour. Although the company does not pay any health or ree tirement benefits, one of the perks of working at Aspen is that employees are allowed freskiing on their days off. Federal income taxes are withheld at 15% and state income taxes at

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In practice, the gross income (wages or salaries) of an employee is entitled to some compulsory deductions such as States Taxes, Federal Taxes, Federal Payroll tax, Benefit, Insurance Etc.

Here, various information of Tax rate have been given, therefore, the computations of the requirement goes as follows

Total Salary Expense = Number Of Employees * Hourly rate * Hours worked

Total Salary Expense = 100 * $20 * 40

Total Salary Expense = $80,000

Total Withholding from Employee Salaries = Federal Income Taxes + FICA Taxes + States Income Taxes

Total Withholding from Employee Salaries = ($80,000 * 15%) + ($80,000 * 7.65%) + ($80,000 * 5%)

Total Withholding from Employee Salaries = $12,000 + $6,120 + $4,000

Total Withholding from Employee Salaries = $22,120

Actual Direct Deposit of Payroll = Total Salary Expense - Taxes

Actual Direct Deposit of Payroll = $80,000 - $22,120

Actual Direct Deposit of Payroll = $57,880

Missing question includes "Aspen Ski Resorts has 100 employees, each working 40 hours per week and earning $20an hour. Although the company does not pay any health or retirement benefits, one of the perks of working at Aspen is that employees are allowed free skiing on their days off. Federal income taxes are withheld at 15% and state income taxes at 5%. FICA taxes are 7.65% of the first $113,700 earned per employee and 1.45% thereafter. Unemployment taxes are 6.2% of the first $7,000 earned per employee Compute the total salary expense, the total withholdings from employee salaries and the actual direct deposit of payroll for the first week of January"

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Aspen Ski Resorts has 100 employees, each working 40 hours per week and earning $20 an hour. Althoug

Answer from: playaajosh

1. a. Total Salary Expense

= No. Of Employees * Hourly rate * Hours worked

= 100 * 20 * 40

= $80,000

b. Total Witholdings from Employee Salaries

This will include all Taxes.

= Federal Income Taxes + FICA Taxes + States Income Taxes

= (80,000 * 15%) + (80,000 * 7.65%) + (80,000 * 5%)

= 12,000 + 6,120 + 4,000

= $22,120

c. Actual Direct Deposit of Payroll.

This refers to the actual amount that will be paid to Employees.

= Total Salary Expense - Taxes

= 80,000 - 22,120

= $57,880

Answer from: Quest

answer; i believe that the correct answer is (personal information and career information; second answer; (b) flexibility,independence and salary potential

Answer from: Quest

the answer is i don't know

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Aspen Ski Resorts has 100 employees, each working 40 hours per week and earning $20 an hour. Althoug...

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