xample 3-2

Wallington Company has 100 employees, each earning $525.25 a week.

OASDI
Amount of OASDI tax withheld from each employee's paycheck each week:		$32.57		(6.2% $525.25)
Total tax withheld from the 100 employees' wages:		$3,257.00		($32.57 100)
Tax on employer:		$3,256.55		[6.2% ($525.25 100)]
HI
Amount of HI tax withheld from each employee's paycheck each week:		$7.62		(1.45% $525.25)
Total tax withheld from the 100 employees' wages is:		$762.00		($7.62 100)
Tax on employer:		$761.61		[1.45% ($525.25 100)]

The biweekly taxable wages for the employees of Rite-Shop follow.

Compute the FICA taxes for each employee and the employer's FICA taxes. Round all computations to the nearest cent.

					FICA Taxes
Employee No.	Employee Name	Biweekly Taxable Wages			OASDI		HI
711	Castro, Manny		$1,000.00		$fill in the blank 1		$fill in the blank 2
512	Corrales, Pat		968.00		fill in the blank 3		fill in the blank 4
624	Guitar, Joseph		1,004.00		fill in the blank 5		fill in the blank 6
325	Moore, Connie		1,046.40		fill in the blank 7		fill in the blank 8
422	Morrison, Harry		1,200.00		fill in the blank 9		fill in the blank 10
210	Robertson, Catherine		1,044.80		fill in the blank 11		fill in the blank 12
111	Swarez, Joseph		1,122.00		fill in the blank 13		fill in the blank 14
	Totals		$fill in the blank 15		$fill in the blank 16		$fill in the blank 17

Employer's OASDI	$fill in the blank 18		$fill in the blank 19
	Total Taxable Wages		Employer's OASDI Tax

Employer's HI Tax	$fill in the blank 20		$fill in the blank 21
	Total Taxable Wages		Employer's HI Tax