Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

At Gleeson Brewing Company, office workers are employed for a 40-hour workweek; each individual's salary is quote on either an annual or a monthly basis.

At Gleeson Brewing Company, office workers are employed for a 40-hour workweek; each individual's salary is quote on either an annual or a monthly basis.

Given on the form below are the current annual and monthly salary rates for five office workers for the week ended December 9, 2016 (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:

Regular earnings for the weekly payroll ended December 9, 2016.

Overtime earnings (if applicable).

Total regular, overtime earnings, and bonus.

FICA taxable wages for this pay period.

FICA taxes to be withheld for this pay period.

If required, round your answers to nearest cent and use the rounded answers in subsequent computations. Round your final answers to the nearest cent.

GLEESON BREWING COMPANY
Weekly Payroll for Period Ending December 9, 2016

FICA Taxable Wages This Pay Period

FICA Taxes to Be Withheld

Employee Salary Hours Worked Annual Bonus Regular Earnings Overtime Earnings Total Earnings Cumulative Earnings as of Last Pay Period OASDI HI OASDI HI
Won, H. $99,840/yr. 40 $30,000 $ $ $94,080.00 $ $ $ $
Park, B. 96,200/yr. 40 25,000 90,650.00
James, R. 7,280/mo. 40 20,000 82,320.00
Oho, J. 5,265/mo. 40 15,000 59,535.00
Mack, K. 3,400/mo. 46 8,000 $ 38,446.38
Totals $ $ $ $ $ $ $ $

Employer's FICA taxes for week ended December 9, 2016:

$ $
OASDI HI

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Social Media Audit And Stats Audit And Statistics For Social Media Platforms

Authors: Virtual Desk Tools

1st Edition

B09JDX8Z9M, 979-8492994938

More Books

Students also viewed these Accounting questions

Question

Discuss in details the various aspects of professional attire?

Answered: 1 week ago

Question

What is management growth? What are its factors

Answered: 1 week ago

Question

Explain the importance of nonverbal messages.

Answered: 1 week ago

Question

Describe the advantages of effective listening.

Answered: 1 week ago

Question

Prepare an employment application.

Answered: 1 week ago