Example At Vision Club Company, office workers are employed for a 40-hour workweek on either an annual or a monthly salary basis. Given on the form below are the current annual and monthly salary rates for five office workers for the week ended December 13, 20-- (50th payda of the year). In addition, with this pay, these employees are paid their sliding-scale annual bonuses. The bonuses are listed on the register. For each worker, compute the following. Round your answers to the nearest cent. 1. Regular earnings for the weekly payroll ended December 13, 20-- 2. Overtime earnings (if applicable). 3. Total regular, overtime earnings, and bonus. 4. FICA taxable wages for this pay period. 5. FICA taxes to be withheld for this pay period. VISION CLUB COMPANY Weekly Payroll for Period Ending December 13 Employee Salary Hours Worked Annual Bonus Regular Earnings Overtime Earnings Total Earnings Cumulat Earning as of Last Period Marx, A $112,320/yr. 40 $42,800 $105,84 Boxer, C. 74,880/ 40 24,200 70,56 Lundy, R. 5,252/mo. 40 18,000 59,38 Ruth, B. 3,640/mo. 40 11,400 41,16 Gehrig, L. 4,732/mo. 48 8.800 53,50 U Totals S Employer's FICA taxes for week ended December 13, 2013 VISION CLUB COMPANY Weekly Payroll for Period Ending December 13, 20- FICA Taxable Wages This Pay Period FICA Taxes to Be Withheld Cumulative Earnings as of Last Pay Period Overtime Earnings OASDI OASDI Total Earnings HI HI $105,840 70,560 59,388 [OII 41,160 53,508 Employee Salary Worked Bonus Earnings Earnings Marx, A. $112,320/yr. 40 $42,800 Boxer, C. 74,880/yr. 40 24,200 Lundy, R. 5,252/mo. 40 18,000 Ruth, B. 3,640/mo. 40 11,400 Gehrig, L. 4,732/mo. 48 8.800 Totals Employer's FICA taxes for week ended December 13, 20... OASDI HI Example At Vision Club Company, office workers are employed for a 40-hour workweek on either an annual or a monthly salary basis. Given on the form below are the current annual and monthly salary rates for five office workers for the week ended December 13, 20-- (50th payda of the year). In addition, with this pay, these employees are paid their sliding-scale annual bonuses. The bonuses are listed on the register. For each worker, compute the following. Round your answers to the nearest cent. 1. Regular earnings for the weekly payroll ended December 13, 20-- 2. Overtime earnings (if applicable). 3. Total regular, overtime earnings, and bonus. 4. FICA taxable wages for this pay period. 5. FICA taxes to be withheld for this pay period. VISION CLUB COMPANY Weekly Payroll for Period Ending December 13 Employee Salary Hours Worked Annual Bonus Regular Earnings Overtime Earnings Total Earnings Cumulat Earning as of Last Period Marx, A $112,320/yr. 40 $42,800 $105,84 Boxer, C. 74,880/ 40 24,200 70,56 Lundy, R. 5,252/mo. 40 18,000 59,38 Ruth, B. 3,640/mo. 40 11,400 41,16 Gehrig, L. 4,732/mo. 48 8.800 53,50 U Totals S Employer's FICA taxes for week ended December 13, 2013 VISION CLUB COMPANY Weekly Payroll for Period Ending December 13, 20- FICA Taxable Wages This Pay Period FICA Taxes to Be Withheld Cumulative Earnings as of Last Pay Period Overtime Earnings OASDI OASDI Total Earnings HI HI $105,840 70,560 59,388 [OII 41,160 53,508 Employee Salary Worked Bonus Earnings Earnings Marx, A. $112,320/yr. 40 $42,800 Boxer, C. 74,880/yr. 40 24,200 Lundy, R. 5,252/mo. 40 18,000 Ruth, B. 3,640/mo. 40 11,400 Gehrig, L. 4,732/mo. 48 8.800 Totals Employer's FICA taxes for week ended December 13, 20... OASDI HI
