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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 last
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".
Round your answers to the nearest cent. If an amount is zero, enter "0". a. Annual OASDI Taxable Salary Earnings $158,160 November 15 HI Taxable OASDI Tax Earnings HI Tax S Name and Title Hanks, Timothy, President Grath, John, VP Finance James, Sally, VP Sales Kimmel, Joan, VP Mfg. Wie, Pam, VP Personnel Grant, Mary, VP Secretary 138,240 73,200 54,000 48,000 39,600 b. Annual Salary OASDI Taxable Earnings December 31 HI Taxable OASDI Tax Earnings Name and Title HI Tax $158,160 S 138,240 Hanks, Timothy, President Grath, John, VP Finance James, Sally, VP Sales Kimmel, Joan, VP Mfg. 73,200 54,000 HII Wie, Pam, VP Personnel 48,000 Grant, Mary, VP Secretary 39,600Step by Step Solution
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