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Example 3-1 At Vision Club Company, office workers are employed for a 40-hour workweek and are quoted either a monthly or an annual salary (as indicated). Given on the form below are the current annual and monthly salary rates for five office workers for the week ended December 13, 20-- (50th payday of the year). In addition, with this pay, these employees are paid their sliding-scale annual bonuses. The bonuses are listed on the register. For each worker, compute the following. Round your answers to the nearest cent. 1. Regular earnings for the weekly payroll ended December 13, 20--- 2. Overtime earnings (if applicable). 3. Total regular, overtime earnings, and bonus. 4. FICA taxable wages for this pay period. 5. FICA taxes to be withheld for this pay period. VISION CLUB COMPANY Weekly Payroll for Period Ending December 13, 20-- FICA Taxable Wages This Pay Period FICA Taxes to Be Withheld Hours Employee Salary Annual Bonus Regular Earnings Overtime Earnings Total Earnings Cumulative Earnings as of Last Pay Period OASDI HI OASDI HI Worked Marx, A. $111,280/yr. 40 $46,400 $104,860 $ Boxer, C. 83,200/yr. 40 24,600 78,400 Lundy, R. 6,240/mo. 40 16,400 70,560 Ruth, B. 4,888/mo. 40 11,200 55,272 Gehrig, L. 4,992/mo. 48 9,600 56,448 Totals Employer's FICA taxes for week ended December 13, 20--: OASDI HI Toldl OASDI Taxable Hours Worked Hourly Rate OASDI Tax Monthly Payroll HI Taxable Wages HI Tax Wages Part-Time Office: Kyle, Judy 116 $8.25 957.00 957.00 59.33 957.00 13.88 Laird, Sharon 118 8.45 997.10 997.10 61.82 997.10 14.46 Maxwell, Sara 81 10.20 826.2 826.2 51.22 826.2 11.98 Nelson, Donna 92 8.40 772.8 772.8 47.91 772.8 11.21 Scott, Kim 101 9.55 964.55 964.55 59.80 964.55 13.99 Totals for all employees 32,657.65 32,657.65 2,024.77 X 32,657.65 473.54 x OASDI HI Employer's FICA taxes 2,024.77 473.54