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Example 3-1 In 20-- the annual salaries paid each of the officers of Abrew, Inc., follow. The officers are paid semimonthly on the 15th and
Example 3-1 In 20-- the annual salaries paid each of the officers of Abrew, 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 required, round your answers to nearest cent. If an amount is zero, enter "O". November 15 Annua OASDI Taxable HI Taxable Name and Title OASDI Tax HI Tax Salary $136080 113760 73200 54000 52800 46800 Earnings Earnings Hanks, Timothy, President Grath, John, VP Finance James, Sally, VP Sales Kimmel, Joan, VP Mfg Wie, Pam, VP Personnel Grant, Mary, VP Secretary
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