Example 3-1

In 20-- the annual salaries paid each of the officers of Perez, Inc., follow. The officers are paid semimonthly on the 15th and the last day of the month. Compute the FICA taxes to be withheld from each officer's pay on (a) November 15 and (b) December 31.

If an amount is zero, enter "0". Enter all earnings and taxes to two decimal places.

a.

		November 15
Name and Title	Annual Salary	OASDI Taxable Earnings	OASDI Tax	HI Taxable Earnings	HI Tax
Perez, Paul, President	$153,600	$	$	$	$
Donald, Donna, VP Finance	134,400
Funke, Jack, VP Sales	76,800
Weis, Al, VP Mfg.	92,400
Lang, Hope, VP Personnel	78,000
Lee, Amy, VP Secretary	52,800

b.

		December 31
Name and Title	Annual Salary	OASDI Taxable Earnings	OASDI Tax	HI Taxable Earnings	HI Tax
Perez, Paul, President	$153,600	$	$	$	$
Donald, Donna, VP Finance	134,400
Funke, Jack, VP Sales	76,800
Weis, Al, VP Mfg.	92,400
Lang, Hope, VP Personnel	78,000
Lee, Amy, VP Secretary	52,800