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At Gleeson Brewing Company, office workers are employed for a 40-hour workweek and are quoted either a monthly or an annual salary (as indicated).
At Gleeson Brewing 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. GLEESON BREWING COMPANY Weekly Payroll for Period Ending December 13, 20-- FICA Taxable Wages FICA Taxes This Pay Period to Be Withheld Employee Salary Hours Worked Annual Bonus Regular Earnings Overtime Earnings Total Earnings Cumulative Earnings as of Last Pay Period OASDI Won, H. Park, B. $99,840/yr. 40 $55,000 96,200/yr. 40 25,000 James, R. Oho, J. Mack, K. 7,280/mo. 5,265/mo. 3,400/mo. 40 20,000 40 15,000 46 8,000 Totals Employer's FICA taxes for week ended December 13, 20--: OASDI HI $94,080.00 90,650.00 82,320.00 59,535.00 38,446.38 HI OASDI HI % 7 4 1 +/-
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