Question
Mary Givens and Peggy Moser are partners engaged in operating The G&M Doll Shop, which has employed the following persons since the beginning of the
Mary Givens and Peggy Moser are partners engaged in operating The G&M Doll Shop, which has employed the following persons since the beginning of the year:
T. Binn (general office worker) | $3,100 | per month |
W. Ashworth (saleswoman) | $30,000 | per year |
K. Bitner (stock clerk) | $280 | per week |
J. Vern (deliveryman) | $350 | per week |
A. Axel (cleaning and maintenance, part-time) | $240 | per week |
Givens and Moser are each paid a weekly salary allowance of $1,000.
The doll shop is located in a state that requires unemployment compensation contributions of employers of one or more individuals. The company is subject to state contributions at a rate of 3.25% for wages not in excess of $10,000. Compute each of the following amounts based upon the 41st weekly payroll period ending October 7, 2016.
A)
OASDI | HI | |
M. GIVENS | ||
P. MOSER | ||
T. BINN | ||
W. ASHWORTH | ||
K. BITNER | ||
J. VERN | ||
A. AXEL |
B) Amount of the employer's FICA taxes for the weekly payroll _________ OASDI _________ HI
C) Amount of the state unemployment contributions for the weekly payroll
D) Amount of the net FUTA tax on the payroll
E) Total amount of the employer's payroll taxes for the weekly payroll
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