Use the following tax rates and taxable wage bases; employee's and employer's OASDI 6.2% both on $132,900 HI 1.45% for employees and employers on the total wages paid. Employees Supplemental HI 0.9 percent on wages in excess of $200,000 was not applicable.
Instruction 3-1 Use the following tax rates and taxable wage bases: Employees' and Employer's OASDI6.2% both on $132,900; HI1.45% for employees and employers on the total wages paid. Employees' Supplemental HI of 0.9 percent on wages in excess of $200,000 was not applicable. Refer to Instruction 3-1. 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 Last Pay Period Salary Hrs. Worked _(12/19/2) OFFICE $135,200.00 per year 40 $132,600.00 40 Employee King, M. Manera, E. Tate, S. Yee, L. Diaz, R. Zagst, $76,500.00 $45,900.00 48 $6,500.00 per month $3.900.00 per month $12.50 per hour $12.50 per hour $14.50 per hour 44.5 PLANT 48 $27,675.13 $14,778.96 $24,703.02 52 On the form below, calculate for each worker: (a) regular earnings, (b) overtime earnings, (c) total regular and overtime carnings. (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 for each of these six items. Weekly Payroll for Period Ending December 26, 20-- FICA . Taxable Wages and O/T This Pay Period Earnings (d) Total Reg. FICA Taxes Regular Overtime to Be Withheld Earnings Earnings (e) Net Pay (a) (b) (c) OASDI HI (f) OASDI HI Employee King, M. Manera, E. 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 for each of these six items. Weekly Payroll for Period Ending December 26, 20-- FICA Total Reg. Taxable Wages FICA Taxes Regular Overtime and O/T This Pay Period to Be Withheld Earnings Earnings Earnings (e) Net Pay (d) (a) (b) (c) OASDI HI OASDI HI (f) mployee King, M. Manera, E. Tate, S. Yee, L. Diaz, R. Zagst, J. Totals Employer's FICA Taxes: OASDI = HI = $
