Example 4-9 From the above example, if you indicate separately on Robinson's paycheck stub the amount of each payment, the amount of federal income tax to be with held is computed as follows: The calculation of Robinson's federal income tax for the quarter would be computed as follows: T....... Mratheld * The percentage table could also be used. Note: OASDI and HI withholdings are calculated on total earnings per pay period multiplied by number of pay periods and then added together to arrive at a quarter's total withholding. Quarterly and year-to-date information would appear on Robinson's employee earnings record. The names of the employees of Matson Office Systems and their regular salaries are shown in the following payroll register. Note that Wayne and Young are paid monthly on the last payday, while all others are paid weekly. regular salary will be shown separately on each employee's earnings statement. Assume that all employees received their regular salary during the entire year: Prepare the payroll for the pay period ending December 27, 20--, showing the following for each employee: - Use the wage-bracket method to withhold federal income tax from the regular salaries. - Withhold a flat 22% on the annual bonus. - Total salaries and bonuses are subject to a 2% state income tax and a 1% city income tax. Enter all amounts as positive numbers. Round your answers to the nearest cent. been used. Click here to access the Wage-Bracket Method Tables Compute the employer's FICA taxes for the pay period ending December 27, 20--. Feadback T Check My Wark a. Calculate bonus at 8% of annual salary; note two employees are paid monthly. b. Add regular salary and bonus (Supp'l.). c. Calculate OASDI and HI using appropriate rates. Consider date of pay to ensure employees have not reached OASDI ceiling. d. Calculate FIT on regular wages using Wage bracket method, calculate FIT on bonus (Supp'l.) using 22\%: total FIT on regular wages and bonus. e. Calculate SIT based on total earnings multiplied by SIT rate. f. Calculate CIT based on total earnings multiplied by CIT rate. g. Total earnings minus deductions = net pay h. Calculate Employer's OASDI and HI using OASDI and HI taxable earnings; consider OASDI ceiling. Example 4-9 From the above example, if you indicate separately on Robinson's paycheck stub the amount of each payment, the amount of federal income tax to be with held is computed as follows: The calculation of Robinson's federal income tax for the quarter would be computed as follows: T....... Mratheld * The percentage table could also be used. Note: OASDI and HI withholdings are calculated on total earnings per pay period multiplied by number of pay periods and then added together to arrive at a quarter's total withholding. Quarterly and year-to-date information would appear on Robinson's employee earnings record. The names of the employees of Matson Office Systems and their regular salaries are shown in the following payroll register. Note that Wayne and Young are paid monthly on the last payday, while all others are paid weekly. regular salary will be shown separately on each employee's earnings statement. Assume that all employees received their regular salary during the entire year: Prepare the payroll for the pay period ending December 27, 20--, showing the following for each employee: - Use the wage-bracket method to withhold federal income tax from the regular salaries. - Withhold a flat 22% on the annual bonus. - Total salaries and bonuses are subject to a 2% state income tax and a 1% city income tax. Enter all amounts as positive numbers. Round your answers to the nearest cent. been used. Click here to access the Wage-Bracket Method Tables Compute the employer's FICA taxes for the pay period ending December 27, 20--. Feadback T Check My Wark a. Calculate bonus at 8% of annual salary; note two employees are paid monthly. b. Add regular salary and bonus (Supp'l.). c. Calculate OASDI and HI using appropriate rates. Consider date of pay to ensure employees have not reached OASDI ceiling. d. Calculate FIT on regular wages using Wage bracket method, calculate FIT on bonus (Supp'l.) using 22\%: total FIT on regular wages and bonus. e. Calculate SIT based on total earnings multiplied by SIT rate. f. Calculate CIT based on total earnings multiplied by CIT rate. g. Total earnings minus deductions = net pay h. Calculate Employer's OASDI and HI using OASDI and HI taxable earnings; consider OASDI ceiling