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Exercise 10-5 During the month of March, Olinger Companys employees earned wages of $79,000. Withholdings related to these wages were $6,044 for Social Security (FICA),

Exercise 10-5 During the month of March, Olinger Companys employees earned wages of $79,000. Withholdings related to these wages were $6,044 for Social Security (FICA), $9,258 for federal income tax, $3,827 for state income tax, and $494 for union dues. The company incurred no cost related to these earnings for federal unemployment tax but incurred $864 for state unemployment tax.

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