BUGEATER'S CORPORATION PAYROLL REGISTER

FOR PAY PERIOD ENDING: December $31$st$,20$XX

REGULAR EARNINGS OVERTIME EARNINGS

Name W$-4$ Status RegularHours Hourly Rate Total Regular OT Hours OT Rate OT Amount Total Earnings

Lue, T MFJ $4022\mathrm{.}008$

Green, A$.$ S $4019\mathrm{.}002$

Sweet, J S $3618\mathrm{.}00$

Redwine, J$.$ S $4020\mathrm{.}005$

Copeland, I MFJ $2,800\mathrm{.}00$

Burkhead, R$.$ MFJ $3523\mathrm{.}00$

Shields, S S $3,450\mathrm{.}00$

Larson, J$.$ MFJ $4020\mathrm{.}001$

TOTALS

DEDUCTIONS

Name OASDI Tax HI Tax FIT SIT Simple IRA Group Ins Total Deductions Net Pay Check #

Lue, T $1954$

Green, A$.1955$

Sweet, J $1957$

Redwine, J$.1958$

Copeland, I $1959$

Burkhead, R$.1960$

Shields, S $1961$

Larson, J$.1962$

TOTALS

TAXABLE EARNINGS

Name OASDI HI FUTA SUTA

Lue, T

Green, A$.$

Sweet, J

Redwine, J$.$

Copeland, I

Burkhead, R$.$

Shields, S

Larson, J$.$

TOTALS

I will need help with all these calculations based off the information I have. The following data for the Bugeaters Corporation relates to the payroll for the week ended December $31,2023.$ Pay date is also December $31,2023.$

Employee

Hours

Status

NE

Status

Rate

Weekly

Salary

Federal Income Tax

State Income Tax

Simple IRA

Group Life Insurance

YTD $(12/24/23)$ Wages

Lue, T$.$

$48$

MFJ

M$5$

$22\mathrm{.}00$

TBD

TBD

$4\mathrm{.}0\%$

$21\mathrm{.}00$

$39,490\mathrm{.}00$

Green, A$.$

$42$

S

S$0$

$19\mathrm{.}00$

TBD

TBD

$2\mathrm{.}5\%$

$19\mathrm{.}50$

$52,450\mathrm{.}00$

Sweet, J

$36$

S

S$2$

$18\mathrm{.}00$

TBD

TBD

NA

$18\mathrm{.}00$

$3,280\mathrm{.}00$

Redwine, J$.$

$45$

S

S$0$

$20\mathrm{.}00$

TBD

TBD

$3\mathrm{.}0\%$

$20\mathrm{.}00$

$53,200\mathrm{.}00$

Copeland, I.

MFJ

M$3$

$2,800\mathrm{.}00$

TBD

TBD

$6\mathrm{.}0\%$

$27\mathrm{.}50$

$160,800\mathrm{.}00$

Burkhead, R$.$

$35$

MFJ

M$1$

$23\mathrm{.}00$

TBD

TBD

NA

$17\mathrm{.}25$

$5,200\mathrm{.}00$

Shields, S$.$

S

S$1$

$3,450\mathrm{.}00$

TBD

TBD

$7\mathrm{.}0\%$

$31\mathrm{.}50$

$175,950\mathrm{.}00$

Larson, J$.$

$41$

MFJ

M$4$

$20\mathrm{.}00$

TBD

TBD

NA

$19\mathrm{.}50$

$8,300\mathrm{.}00$

The Payroll Register is divided into $3$ sections:

Earnings $$ Using the information provided here, complete the earnings section first. The $2$ salaried people just put then salary in the Total Regular Earnings column, they will have $40$ regular hours. Only $40$ hours goes in the Regular Hours column. Don$$t forget to complete the Totals row.

Deductions $$ you need to complete all deduction columns $($information is found below$).$

OASDI and HI are withheld at their respective rates of $6\mathrm{.}2\%$ and $1\mathrm{.}45\%.$ The OASDI wage cap is $$160,200.$ There is no wage cap for HI$.$ YTD Wages are given.

Federal Income Tax and State Income Tax will be affected by the SIMPLE contribution. $($Subtract SIMPLE before calculating the tax withheld.

You will use the Wage Bracket Method $($Standard Withholding$)$ for most employees, the Percentage Method has to be used for $2$ employees.

All tables are included in one file.

The Simple IRA amounts are listed. This is the $\%$ of gross income to be withheld.

Group Insurance amounts are given $($this deduction does not affect any tax calculations$).$

Start with Check # $1954.$

Taxable Earnings: Only list the wages that are taxable, calculate the tax on THE ER Taxes row.

OASDI

HI

FUTA $($$$7,000$ limit$,\mathrm{.}6\%)$

SUTA $($$$9,000$ limit$,4\mathrm{.}5\%)$

Tax Rates:

ER Taxes: