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.

Round your answers to the nearest cent. If an amount is zero, enter "0".

a.

		November 15
Name and Title	Annual Salary	OASDI Taxable Earnings	OASDI Tax	HI Taxable Earnings	HI Tax
Hanks, Timothy, President	$152,280	$	$	$	$
Grath, John, VP Finance	137,400
James, Sally, VP Sales	75,600
Kimmel, Joan, VP Mfg.	52,800
Wie, Pam, VP Personnel	52,800
Grant, Mary, VP Secretary	38,400

b.

		December 31
Name and Title	Annual Salary	OASDI Taxable Earnings	OASDI Tax	HI Taxable Earnings	HI Tax
Hanks, Timothy, President	$152,280	$	$	$	$
Grath, John, VP Finance	137,400
James, Sally, VP Sales	75,600
Kimmel, Joan, VP Mfg.	52,800
Wie, Pam, VP Personnel	52,800
Grant, Mary, VP Secretary	38,400