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Payroll Accounting ABC Company has four employees. Their general payroll details are as follows: One of the employees is a salaried employee, while the other employees are hourly.  Employees are paid $15 per hour and receive time and a half for overtime after working 40 hours.  FICA Social Security is 6.2% for the employee and 6.2% for the employer.  FUTA tax rate is 0.6% (0.006) on […]

Payroll Accounting ABC Company has four employees. Their general payroll details are as follows: One of the employees is a salaried employee, while the other employees are hourly.  Employees are paid $15 per hour and receive time and a half for overtime after working 40 hours.  FICA Social Security is 6.2% for the employee and 6.2% for the employer.  FUTA tax rate is 0.6% (0.006) on […]

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