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I need help filling out the Weekly Payroll for Period Ending December 26, 20-- portion please. Payroll Procedures Test 1 - Part 2 (Chapters 1-3)
I need help filling out the "Weekly Payroll for Period Ending December 26, 20--" portion please.
Payroll Procedures Test 1 - Part 2 (Chapters 1-3) 55 Points Total Please save your work with your name in the file name. Problem 1- 30 Points At Haddon, Inc., the office workers are employed for a 40-hour workweek and are paid on either an annual, monthly, or hourly basis. All office workers are entitled to overtime pay for all hours worked beyond 40 each workweek at 1 times the regular hourly rates. Required: 1)Calculate for each worker: (a) regular earnings, (b) overtime earnings, (c) total regular and overtime earnings,(d) FICA taxable wages-OASDI, (e) FICA taxes to be withheld-OASDI & HI for the week ended December 26, 20--. Also, determine the total for each of these items. Assume that there are 52 weekly payrolls in 20--. 2) Calculate the Employer's OASDI Tax and HI Tax for this period. A working paper is provided on the next page. You may use the Excel version instead if you wish. Weekly Payroll for Period Ending December 26, 20 Employee Salary Cum. Taxable Wages Hrs. Regular Overtime as of Last Pay Worked Earnings Earnings (A) (B) Period (12/19/--) King, M. Manera, E. Tate, S. Yee, L. Diaz, R. Zagst, J. Totals $119,600 per yr. $6,500 per mo. per mo. $3,900 per hr. $12.50 $117,300.00 $76,500.00 $45,900.00 $27,675.13 40 40 48 44 $12.50 per hr. $14,778.96 48 $14.50 per hr. $24,703.02 - - 52 - Employer's FICA Taxes: OASDI $ HI Total Reg. and O/T Taxable Wages FICA Taxes Earnings This Pay Period To Be Withheld (C) (D) FICA Taxes To Be Withheld OASDI HI $ OASDI Problem 2 - 25 Points Lidge Company of Texas (TX) pays its employees monthly and is monthly depositor for Form 941. The following payroll information is for the second quarter of 20--. WITHHOLDINGS EMPLOYER'S Wages OASDI HI FIT OASDI HI April $ 86,100 $ 5,338.20 $1,248.46 $ 9,650 $ 5,338.20 $1,248.45 May 92,500 5,735.00 1,341.26 10,005 5,735.00 1,341.25 June 73,400 4,550.80 1,064.30 8,995 4,550.80 1,064.30 Totals $252,000 $15,624.00 $3,654.02 $28,650 $15,624.00 $3,654.00 The number of employees on March 12, 20-- was 11. Assume that all tax deposits match the liability for the period. Required: 1) Calculate the total 941 liability per payday. Show your work for partial credit. 2) Prepare Form 941 (Pages 1 & Page 2 -Part 2) for Lidge Company for the second quarter. Don't worry about their ID number or address. You do not need to worry about Part 3, 4 or 5 on Page 2. You do not need to sign the return. Form 941 is provided as a separate attachment. When submitting your test, be sure to attach all answer documents. I have allowed multiple attempts on the submission link so if you forget something you can go back inStep by Step Solution
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