In 20-, the annual salaries paid each of the officers of Perez, 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. November 15 Name and Title Annual Salary OASDI Taxable Earnings HI OASDI Taxable HI Tax Earnings Tax Perez, Paul, President $172,800 Donald, Donna, VP Finance 148,800 Funke, Jack, VP Sales 76,800 Weis, Al, VP Mg 92,400 Lang, Hope, VP Personnel 78,000 Lee, Amy, VP Secretary 52,800 b. December 31 OASDI HI Annual Taxable OASDI Taxable HI Name and Title Salary Earnings Tax Earnings Tax Perez, Paul, President $172,800 Donald, Donna, VP Finance 148,800 Funke, Jack, VP Sales 76,800 We, Al, VP Mfg 92,400 Lang Hope, VP Personnel 78,000 Lee, Amy, VP Secretary 52,800 3-58 Enter the appropriate numbers/formulas in the shaded (gray) cells. An asterisk (*) will appear to the right of an incorrect answer. Must use ROUND formula when calculating taxes. -ROUND(taxable earnings rate,2) 3-5B a. November 15 Annual Name and Title Salary OASDI Taxable Earnings OASDI Tax HI Taxable Earnings HI Tax Perez, Paul, President $172,800 Donald, Donna VP Finance: 148,800 6,200.00 384.40 6,200.00 89.90 Funke, Jack, VP Sales 76,800 3,200.00 198.40 3,200.00 46.40 Weis, AI, VP Mfg. 92,400 3,850.00 238.70 3,850.00 55.83 Lang, Hope, VP Personnel 78,000 3,250.00 201.50 3,250.00 47.13 Lee, Amy, VP Secretary 52,800 2,200.00 136.40 2,200.00 31.90 b. December 31 Annual OASDI Taxable Name and Title Salary Earnings OASDI Tax HI Taxable Earnings HI Tax Perez, Paul, President $172,800 Donald, Donna VP Finance 148,800 4,400.00 272.80 6,200.00 89.90 Funke, Jack, VP Sales 76,800 3,200.00 198.40 3,200.00 46.40 Weis, Al, VP Mfg. 92,400 3,850.00 238.70 3,850.00 55.83 Lang, Hope, VP Personnel 78,000 3,250.00 201.50 3,250.00 47.13 Lee, Amy, VP Secretary 52,800 2,200.00 136.40 2,200.00 31.90 3-5B LO 3 X See Example 3-1 on page 3-11 Me How In 20--, the annual salaries paid each of the officers of Perez, 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. November 15 OASDI HI Annual Taxable OASDI Taxable HI Name and Title Salary Earnings Tax Earnings Tax Perez, Paul, President $172,800 Donald, Donna, VP Finance 148,800 Funke, Jack, VP Sales 76,800 Weis, Al, VP Mfg. 92,400 Lang, Hope, VP Personnel 78,000 Lee, Amy, VP Secretary 52,800 December 31 OASDI HI Annual Taxable OASDI Taxable HI Name and Title Salary Earnings Tax Earnings Tax Perez, Paul, President $172,800 Donald, Donna, VP Finance 148,800 Funke, Jack, VP Sales 76,800 Weis, Al, VP Mfg 92,400 Lang, Hope, VP Personnel 78,000 Lee, Amy, VP Secretary 52,800 3-58