Problem Information Use the following tax rates and taxable wage bases: Employees' and Employer's OASDI-6.2% both on $128,400; HI-1.45% for employees and employers on the total wages paid. Employees' Supplemental HI of 0.9% on wages in excess of $200,000 was not applicable. At Haddon, Inc., the office workers are employed for a 40-hour workweek and are paid on either an annual, monthly, or hourly basis. All office workers are entitled to overtime pay for all hours worked beyond 40 each workweek at 1.5 times the regular hourly rates. Company records show the following information for the week ended December 26, 20-- Cumulative Taxable Wages as of Employee Salary Hrs. Worked Last Pay Period (12/19/--). OFFICE King, M. $128,700.00 per year $126,225.00 Manera, E. $6,500.00 per month $76,500.00 Tate, s. $3,900.00 per month $45,900.00 Yee, L. $12.50 per hour $27,675.13 PLANT Diaz, R. $12.50 per hour $14,778.96 Zagst, J. $14.50 per hour $24,703.02 On the form below, calculate for each worker: (a) regular earnings, (b) overtime earnings, (c) total regular and overtime earnings, (d) FICA taxable wages, (e) FICA taxes to be withheld, and (f) net pay for the week ended December 26, 20-- Assume that there are 52 weekly payrolls in 20--. Also, determine the total where indicated. Round your answers to the nearest cent and use those rounded amounts in subsequent calculations. If an amount box does not require an entry, leave it blank. Coin 52 Weekly Payroll for Period Ending December 26, 20-- Cum. FICA Tavahi Weekly Payroll for Period Ending December 26, 20-- Regular Earnings Overtime Earnings Hrs. Employee Salary Total Reg. and O/T Earnings (C) Cum. Taxable Wages as of Last Pay Period (12/19/--) FICA Taxable Wages This Pay Period (D) FICA Taxes to Withhe (E) Worked (A) (B) OASDI OASDI OFFICE: King, M. $ 128,700.00 per year $126,225.00 Manera, E. $6,500.00 per mo. $76,500.00 $3,900.00 per Yate, s. $45,900.00 mo. Yee, L. $12.50 per hr. 44.5 $27,675.13 PLANT: Diaz, $12.50 per hr. 48 $14,778.96 Zagst, J. $14.50 per hr. 52 $24,703.02 Totals Employer's FICA Taxes: FICA Taxes to be Withheld (E) Net Pay (F) OASDI Problem Information Use the following tax rates and taxable wage bases: Employees' and Employer's OASDI -6.2% both on $128,400; HI-1.45% for employees and employers on the total wages paid. Employees' Supplemental HI of 0.9% on wages in excess of $200,000 was not applicable. At Haddon, Inc., the office workers are employed for a 40-hour workweek and are paid on either an annual, monthly, or hourly basis. All office workers are entitled to overtime pay for all hours worked beyond 40 each workweek at 1.5 times the regular hourly rates. Company records show the following information for the week ended December 26, 20- Hrs. Worked Cumulative Taxable Wages as Last Pay Period (12/19/--) $126,225.00 OFFICE Employee King, M. Manera, E. Tate, S. Yee, L. Diaz, R. Zagst, J. Salary $128,700.00 per year $6,500.00 per month $3,900.00 per month $12.50 per hour 44.5 $76,500.00 $45,900.00 $27,675.13 $14,778.96 $24,703.02 PLANT $12.50 per hour $14.50 per hour On the form below, calculate for each worker: (a) regular earnings, (b - cuyo. . per mu On the form below, calculate for each worker: (a) regular earnings, (b) overtime earnings, (c) total regular and overtime earnings, (d) FICA taxable wages, (e) FICA taxes to be withheld, and (f) net pay for the week ended December 26, 20--. Assume that there are 52 weekly payrolls in 20--. Also, determine the total where indicated. Round your answers to the nearest cent and use those rounded amounts in subsequent calculations. If an amount box does not require an entry, leave it blank. Weekly Payroll for Period Ending Decem Weekly Payroll for Period Ending Decembe Regular Earnings Hrs. Employee Salary Overtime Earnings Total Reg. and O/T Earnings (B) Cum. Taxable Wages as of Last Pay Period (12/19/--) (A) (C) OASI OFFICE: King, M $128,700.00 per year $126,225.00 $6,500.00 per Manera, E. $76,500.00 mo. $3,900.00 per Tate, S. $45,900.00 mo. Yee, L. $12.50 per hr. 44.5 $27,675.13 PLANT: Diaz, $12.50 per hr. 48 $14,778.96 R. 52 $24,703.02 Zagst, J. Totals $14.50 per hr. .... -Payroll for Period Ending December 26, 20- . and O/T ings Cum. Taxable Wages as of Last Pay Period (12/19/--) FICA Taxable Wages This Pay Period (D) FICA Taxes to be Withheld (E) Net Pay (F) OASDI HI OASDI HI $126,225.00 $76,500.00 JUU $45,900.00 $27,675.13 $14,778.96 $24,703.02 Totals Employer's FICA Taxes: OASDI: HI
