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College accounting 12-1 Exercises Exercise 12-1 Objective: To calculate employer payroll taxes Directions: For cach of the following employees, calculate the taxable earnings for FICA-OASDI,

College accounting 12-1
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Exercises Exercise 12-1 Objective: To calculate employer payroll taxes Directions: For cach of the following employees, calculate the taxable earnings for FICA-OASDI, FICA-HI, FUTA, and STA for the current week. Then, calt oa rates of62% tal taxable earnings and the employer's liability for each of these taxes. Use e for FICA-OAS DI and 1.45% for FICA-HI and a tax base of $102,000 for OASDI Assume rates of 0.8% for FU'TA and 3.190 for SUTA and a tax base of$7,000. ntin Exercises Exercise 12-1 Objective: To calculate employer payroll taxes Directions: For cach of the following employees, calculate the taxable earnings for FICA-OASDI, FICA-HI, FUTA, and STA for the current week. Then, calt oa rates of62% tal taxable earnings and the employer's liability for each of these taxes. Use e for FICA-OAS DI and 1.45% for FICA-HI and a tax base of $102,000 for OASDI Assume rates of 0.8% for FU'TA and 3.190 for SUTA and a tax base of$7,000. ntin

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