Homework SourseAt Vision Club Company office workers are employed for a 40h
At Vision Club Company, office workers are employed for a 40-hour workweek on either an annual or a monthly salary basis.
Given on the form below are the current annual and monthly salary rates for five office workers for the week ended December 14, 2018 (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.
Regular earnings for the weekly payroll ended December 14, 2018.
Overtime earnings (if applicable).
Total regular, overtime earnings, and bonus.
FICA taxable wages for this pay period.
FICA taxes to be withheld for this pay period.
FICA Taxable Wages
This Pay Period
FICA Taxes
to Be Withheld
Employer\'s FICA taxes for week ended December 14, 2018:
| VISION CLUB COMPANY | ||||||||||||||
| Weekly Payroll for Period Ending December 14, 2018 | ||||||||||||||
| FICA Taxable Wages | FICA Taxes | |||||||||||||
| Employee | Salary | Hours Worked | Annual Bonus | Regular Earnings | Overtime Earnings | Total Earnings | Cumulative Earnings as of Last Pay Period | OASDI | HI | OASDI | HI | |||
| Marx, A. | $110,760/yr. | 40 | $48,200 | $ | $ | $104,370 | ||||||||
| Boxer, C. | 76,440/yr. | 40 | 23,400 | 72,030 | ||||||||||
| Lundy, R. | 5,356/mo. | 40 | 18,200 | 60,564 | ||||||||||
| Ruth, B. | 4,576/mo. | 40 | 11,800 | 51,744 | ||||||||||
| Gehrig, L. | 4,160/mo. | 48 | 6,200 | $ | 47,040 | |||||||||
| Totals | $ | $ | $ | $ | $ | $ | $ | $ |
Solution
Working:
| VISION CLUB COMPANY | ||||||||||
| PAYROLL REGISTER FOR THE WEEK ENDED DECEMBER 14 , 2018 | ||||||||||
| Employee Name | Hourly rate | Hours worked | Salary | Annual bonus | Total earnings | Cumulative earnings as of last pay period | FICA taxable wages this period | |||
| Regular | Overtime | Total | ||||||||
| OASDI | HI | |||||||||
| Marx, A. | 53.25 | 40 | 2130 | 2130 | 48200 | 50330 | 104370 | 24330 | 50330 | |
| Boxer, C. | 36.75 | 40 | 1470 | 1470 | 23400 | 24870 | 72030 | 24870 | 24870 | |
| Lundy, R. | 33.48 | 40 | 1339 | 1339 | 18200 | 19539 | 60564 | 19539 | 19539 | |
| Ruth, b. | 28.60 | 40 | 1144 | 1144 | 11800 | 12944 | 51744 | 12944 | 12944 | |
| Jehrig, L. | 26.00 | 48 | 1248 | 208 | 1456 | 6200 | 7656 | 47040 | 7656 | 7656 |
