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In 20--, the annual salaries paid each of the officers of Abrew, Inc., follow. The officers are paid semimonthly on the 15th and the
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. November 15 HI Taxable Earnings HI Tax Name and Title Annual Salary OASDI Taxable Earnings OASDI Tax Hanks, Timothy, President $158,040 Grath, John, VP Finance 137,400 James, Sally, VP Sales 75,600 Kimmel, Joan, VP Mfg. 58,800 Wie, Pam, VP Personnel 51,600 Grant, Mary, VP Secretary 42,000 b. Name and Title OASDI Taxable Earnings Annual Salary $158,040 $ Hanks, Timothy, President Grath, John, VP Finance James, Sally, VP Sales 137,400 75,600 Kimmel, Joan, VP Mfg. 58,800 Wie, Pam, VP Personnel 51,600 Grant, Mary, VP Secretary 42,000 December 31 OASDI Tax S HI Taxable Earnings HI Tax
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