Question
The names of the employees of Hogan Thrift Shop are listed on the following payroll register. Employees are paid weekly. The marital status and the
The names of the employees of Hogan Thrift Shop are listed on the following payroll register. Employees are paid weekly. The marital status and the number of allowances claimed are shown on the payroll register, along with each employee's weekly salary, which has remained the same all year. Complete the payroll register for the payroll period ending December 20, the 51st weekly payday. The state income tax rate is 2% of total earnings, the city income tax rate is 1.5% of the total gross earnings, and the wage-bracket method is used for federal income taxes. Hint: If wages are higher than the last amount on the appropriate wage-bracket table, the percentage method must be used. Enter all amounts as positive numbers. Round your calculations and final answers to the nearest cent. Click here to access the Table of Allowance Values. Click here to access the Wage-Bracket Method Tables. Click here to access the Percentage Method Tables. Hogan Thrift Shop Payroll Register FOR PERIOD ENDING December 20, 20-- Deductions Employee Name Marital Status No. of W/H Allowances Total Earnings (a) FICA (b) (c) (d) (e) OASDI HI FIT SIT CIT Net Pay John, Matthew S 2 $2,524.00 $
I am having trouble firguring the OASDI. Any help will be much appreciated. I thought the answer would be $156.49, but it is telling me it is wrong.
The OASDI rate is 6.20%, wage base is $128,400, MAX $7960.80.
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