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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).
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 Employee Salary Hours Worked Annual Bonus Regular Earnings Overtime Earnings Total Earnings Cumulative Earnings as of Last Pay OASDI HI OASDI HI Period Marx, A. Boxer, C. Lundy, R. $97,240/yr. 91,000/yr. 40 $60,000 1,870 61,870 $91,630.00 61,870 40 25,000 1,750 26,750 85,750.00 26,750 26,750 1,658.50 387.88 6,240/mo. 40 20,000 1,440 21,440 V 70,560.00 21,440 21,440 1,329.28 310.88 Ruth, B. 4,680/mo. 40 15,000 1,080 16,080 52,920.00 16,080 16,080 996.96 233.16 Gehrig, L. 4,900/mo. 48 8,000 1,130.77 339.28 9,470.05 34,890.00 9,470.05 9,470.05 587.14 137.32 Totals 128,000 7,270.77 339.28 135,610.05 135,610.05 Employer's FICA taxes for week ended December 13, 20--: OASDI HI
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