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Show all calculations. Example 3-1 Example 3-2 $32.57 $3,257.00 Wallington Company has 100 employees, each earning 5525.25 a week. OASDI Amount of OASDI tax withheld
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Example 3-1 Example 3-2 $32.57 $3,257.00 Wallington Company has 100 employees, each earning 5525.25 a week. OASDI Amount of OASDI tax withheld from each employee's paycheck each week: Total tax withheld from the 100 employees' wages: Tax on employer: HI Amount of HI tax withheld from each employee's paycheck each week: Total tax withheld from the 100 employees' wages is: Tax on employer: (6.2% x $525.25) (532.57 X 100) [6.2% x ($525.25 X 100)] $3,256.55 $7.62 $762.00 (1.45% x 5525.25) ($7.62 x 100) [1.45% x ($525.25 X 100)] $761.61 Empty Fields Company pays its salaried employees monthly on the last day of each month. The annual salary payroll for 20-- follows. Compute the following for the payroll of December 31; round your answers to the nearest cent. OASDI Taxable HI Taxable Employee Annual Salary OASDI Tax HI Tax Wages Wages Utley, Genna $22,800 1,900 s Werth, Norm 48,000 3,998.40 X Bass, John 26,400 2,199.12 x Ruiz, Sam 133,700 10,338 X Compton, Sue 16,800 1,399.44 X Williams, Mary 16,800 1,399.44 X Patel, Raymond 105,600 8,796.48 X Carson, Abe 54,000 4,498.20 X Livinsky, Sarah 39,600 3,298.68 X Harper, Mark 52,800 4,398.24 x Totals Employer's OASDI Tax Employer's HI Tax Feedback Check My Work Calculate OASDI Taxable Wages; for any employee earning over the OASDI ceiling consider year-to-date earnings prior to current pay period. Multiply OASDI taxable wages for current pay period. Multiply OASDI Taxable Wages by OASDI rate. Multiply HI taxable earnings by HI rate. For employer's OASDI Tax, multiply total of OASDI Taxable Wages column by OASDI rate; for employer's HI Tax, multiply total of HI Taxable Wages column by HI rateStep by Step Solution
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