In 20them December e s odach of the officers of Pere, Inc. fol. Thers are paid on the If an amount is ere, enter ". Enter i ngs and taxes to two decimal places November 15 Name and it DASDI Twxable Annual Salary Table DASDIT Perer Paul Preet Donald Donna, VP Finance Funke, Jack, VP Sales 92.400 Wels, AlVP Lang. Hope, VP Personnel te Amy VP Secretary 52.800 QASDI Taxable Name Title Annual salary Perez, Paul President $150,000 125,000 Donald, Donna, VP Finance Funke, Jack, VP Sales Wes, VPH Lang Hope Personnel Lemy, VP Secretary Note: In this chapter and in all succeeding work throughout the course, unless instructed otherwise use the following rates, ceiling, and maximum taxes. Employee and Employer OASDI: 6.20% $120,400 $7,960.80 Employee and Employer HI: 1.45% No limit No maximum Self-employed OASDI 12.4% $128.400 $15,921.60 Self-employed HI: 2.9% No limit No maximum 1. Carry the hourly rate and the overtime rate to 3 decimal places and then round off to 2 decimal places (round the hourly rate to 2 decimal places before multiplying by one and one-half to determine the over- time rate) 2. If the third decimal place is 5 or more, round to the next higher cent. 3. If the third decimal place is less than 5, simply drop the third decimal place. Examples: Monthly rate $1,827 Weekly rate ($1,827 x 12)/52 - $421.615 rounded to $421.62 Hourly rate $421.62/40 - $10.540 rounded to $10.54 O.T. rate $10.54 x 1.5 - $15.81 Also, use the minimum hourly wage of $7.25 in solving these problems and all that follow. "Employee HII Plus an additional 0.9% on wages over $200,000. Also applicable to self-employed. Example 3-1 In 20- the annual salaries paid each of the officers of Perez, Inc., follow. The dificers 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. If an amount is zero, enter "O". Enter all earnings and taxes to two decimal places. November 15 OASDI Taxable Earnings OASDI Tax Annual Salary HI Taxable Earnings HI Tak Name and Title