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Example 3-2 Wallington Company has 100 employees, each earning $525.25 a week, OASDI Amount of OASDI tax withheld from each employee's paycheck each week: $32.57
Example 3-2 Wallington Company has 100 employees, each earning $525.25 a week, OASDI Amount of OASDI tax withheld from each employee's paycheck each week: $32.57 Total tax withheld from the 100 employees' wages: $3,257.00 (6.2% x $525.25) ($32.57 X 100) [6.2% x ($525.25 x 100)] Tax on employer: $3,256.55 HI $7.62 $ Amount of HI tax withheld from each employee's paycheck each week: Total tax withheld from the 100 employees' wages is: $762.00 (1.45% $525.25) ($7.62 x 100) [1.45% x ($525.25 x 100)] Tax on employer: $761.61 The blweekly taxable wages for the employees of Rite-Shop follow. Compute the FICA taxes for each employee and the employer's FICA taxes. Round your answers to the nearest cent. . FICA Taxes Employee No Employee Name Biweekly Taxable Wages OASDI HI 711 Castro, Manny $1,000.00 s 512 Corrales, Pat 960.00 624 Guitar, Joseph 1,042.00 325 Moore, Connie 1,063.40 Chapter 3 - Homework eBoxak Tax on employer: $751.61 (1.45% (5525.25 X 100)] 1. PR.03.05A ALGO 2. PR.03.02A ALGO The biweekly taxable wages for the employees of Rite-Shop follow. Compute the FICA taxes for each employee and the employer's FICA taxes. Round your answers to the nearest cent. 3. PR.03.01A.ALGO FICA Taxes 4. PR.03.10A.ALGO Employee No. Employee Name Blweekly Taxable Wages OASDI HI 5. PR.03.13A.ALGO 711 Castro, Manny $1,000.00 $ S 6. PR.03.16A.ALGO 512 Corrales, Pat 960.00 624 Guitar, Joseph 1,042,00 325 Moore, Connie 1,063.40 422 Morrison, Harry 1,300.00 210 Robertson Catherine 1,254,80 111 Swarez, Joseph 1.292.00 Totals Employer's OASDI Total Taxable Wages Employer's OASDI Tax TO Employer's HI Tex #1 $ Total Taxable Wages Employer's HI Tax
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