Question
At Haddon, Inc., the office workers are employed for a 40-hour workweek and are paid on either an annual, monthly, or hourly basis. All office
At Haddon, Inc., the office workers are employed for a 40-hour workweek and are paid on either an annual, monthly, or hourly basis. All office workers are entitled to overtime pay for all hours worked beyond 40 each workweek at 1.5 times the regular hourly rates.
Company records show the following information for the week ended December 26, 20--.
Employee
Salary
Hrs. WorkedCumulative Taxable Wages as of Last Pay Period (12/19/--)
OFFICEKing, M.$128,700.00 per year 40$126,225.00
Manera, E.$6,500.00 per month 40 $76,500.00
Tate, S.$3,900.00 per month 48 $45,900.00
Yee, L.$12.50 per hour 44.5 $27,675.13
PLANTDiaz, R.$12.50 per hour 48 $14,778.96
Zagst, J.$14.50 per hour 52 $24,703.02
On the form below, calculate for each worker:
(a) regular earnings,
(b) overtime earnings,
(c) total regular and overtime earnings,
(d) FICA taxable wages,
(e) FICA taxes to be withheld, and
(f) net pay for the week ended December 26, 20--. Assume that there are 52 weekly payrolls in 20--. Also, determine the total where indicated. Round your answers to the nearest cent and use those rounded amounts in subsequent calculations.
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