Question
Example 3-1 At Gleeson Brewing Company, office workers are employed for a 40-hour workweek and are quoted either a monthly or an annual salary (as
Example 3-1
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.
- Regular earnings for the weekly payroll ended December 13, 20--.
- Overtime earnings (if applicable).
- Total regular, overtime earnings, and bonus.
- FICA taxable wages for this pay period.
- FICA taxes to be withheld for this pay period.
| GLEESON BREWING 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 Period | OASDI | HI | OASDI | HI | |||
| Won, H. | $99,840/yr. | 40 | $45,000 | $fill in the blank 1 | $fill in the blank 2 | $94,080.00 | $fill in the blank 3 | $fill in the blank 4 | $fill in the blank 5 | $fill in the blank 6 | ||||
| Park, B. | 96,200/yr. | 40 | 25,000 | fill in the blank 7 | fill in the blank 8 | 90,650.00 | fill in the blank 9 | fill in the blank 10 | fill in the blank 11 | fill in the blank 12 | ||||
| James, R. | 7,280/mo. | 40 | 20,000 | fill in the blank 13 | fill in the blank 14 | 82,320.00 | fill in the blank 15 | fill in the blank 16 | fill in the blank 17 | fill in the blank 18 | ||||
| Oho, J. | 5,265/mo. | 40 | 15,000 | fill in the blank 19 | fill in the blank 20 | 59,535.00 | fill in the blank 21 | fill in the blank 22 | fill in the blank 23 | fill in the blank 24 | ||||
| Mack, K. | 3,400/mo. | 46 | 8,000 | fill in the blank 25 | $fill in the blank 26 | fill in the blank 27 | 38,446.38 | fill in the blank 28 | fill in the blank 29 | fill in the blank 30 | fill in the blank 31 | |||
| Totals | $fill in the blank 32 | $fill in the blank 33 | $fill in the blank 34 | $fill in the blank 35 | $fill in the blank 36 | $fill in the blank 37 | $fill in the blank 38 | $fill in the blank 39 | ||||||
Employer's FICA taxes for week ended December 13, 20--:
| $fill in the blank 40 | $fill in the blank 41 | |
| OASDI | HI |
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Fixed Income Securities Valuation Risk Management And Portfolio Strategies
Authors: Lionel Martellini, Philippe Priaulet, Stéphane Priaulet
1st Edition
0470852771, 978-0470852774
