Question
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 |
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