Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

that is all I was given. I need some help with the empty cases and the red one. At Vision Club Company, office workers are

image text in transcribed

image text in transcribed

image text in transcribed

that is all I was given. I need some help with the empty cases and the red one.

At Vision Club Company, office workers are employed for a 40-hour workweek and are quoted either a monthly or an annual salary (as indicated). Given on the form below are the current annual and monthly salary rates for five office workers for the week ended December 13, 20-- (50th payday of the year). In addition, with this pay, these employees are paid their sliding-scale annual bonuses. The bonuses are listed on the register. For each worker, compute the following. Round your answers to the nearest cent. 1. Regular earnings for the weekly payroll ended December 13, 20- 2. Overtime earnings (if applicable). 3. Total regular, overtime earnings, and bonus. 4. FICA taxable wages for this pay period. 5. FICA taxes to be withheld for this pay period. VISION CLUB COMPANY Weekly Payroll for Period Ending December 13, 2 VISION CLUB COMPANY Weekly Payroll for Period Ending December 13, 2 Employee Salary Hours Worked Annual Bonus Regular Earnings Overtime Earnings Total Earnings Cumulative Earnings as of Last Pay Period Marx, A. $97,240/yr. 40 $50,000 $ 1,870 51,870 $91,630.00 Boxer, C. 91,000/yr. 40 25,000 1,750 26,750 85,750.00 Lundy, R. 6,240/mo. 40 20,000 1,440 21,440 70,560.00 Ruth, B. 4,680/mo. 40 15,000 1,080 16,080 52,920.00 Gehrig, L. 4,900/mo. 48 8,000 1,130.77 339.28 9,470.05 34,890.00 Totals 118,000 V $ 7,270.77 $ 339.28 125,610.05 Employer's FICA taxes for week ended December 13, 20-- OASDI HI FICA Taxable Wages This Pay Period FICA Taxes to Be Withheld OASDI HI OASDI HI $ 316,870 X 169 51,870 $ $ 26,750 / 26,750 W 1,658.5 V 387.88 21,440 21,440 V 1,329.28 310.88 16,080 16,080 V 996.96 233.16 9,470.05 9,470.05 V 587.14 137.32 $ 125,610.05

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Basics Of IT Audit Purposes Processes And Practical Information

Authors: Stephen D. Gantz

1st Edition

0124171591, 978-0124171596

More Books

Students also viewed these Accounting questions

Question

What is short-selling and is it legal?

Answered: 1 week ago

Question

Analyze the impact of labor unions on health care.

Answered: 1 week ago

Question

Assess three motivational theories as they apply to health care.

Answered: 1 week ago

Question

Discuss the history of U.S. labor unions.

Answered: 1 week ago