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Example In 20--, the annual salaries paid each of the officers of Abrew, Inc., follow. The officers are paid semimonthly on the 15th and
Example 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. Name and Title Annual Salary OASDI Taxable Earnings Hanks, Timothy, President Grath, John, VP Finance $158,280 $ 137,760 James, Sally, VP Sales 73,200 Kimmel, Joan, VP Mfg. 58,800 Wie, Pam, VP Personnel 44,400 Grant, Mary, VP Secretary 44,400 b. Name and Title Annual Salary OASDI Taxable Earnings Hanks, Timothy, President Grath, John, VP Finance $158,280 137,760 James, Sally, VP Sales 73,200 Kimmel, Joan, VP Mfg. 58,800 Wie, Pam, VP Personnel 44,400 Grant, Mary, VP Secretary 44,400 November 15 HI Taxable Earnings HI Tax OASDI Tax $ $ December 31 OASDI Tax $ HI Taxable Earnings HI Tax
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