Weygandt Accounting Principles 12e Help I System Announcemen

Weygandt, Accounting Principles, 12e Help I System Announcements (1 Unread) PRINTER VERSION BACK Employee earnings records for Slaymaker Company reveal the following gross earnings for four employees through the pay period of December 15. J. Seligman R. Eby $90,900 L. Marshall $114,600 T. Olson $115,600 $125,000 For the pay period ending December 31, each employee\'s gross earnings is $4,800. The FICA tax rate is 6.2% on gross earnings of $117,000, plus an additional 1.45% on all salary and wages without limitation. Compute the FICA withholdings that should be made for each employee for the December 31 pay period. (Round answers to 2 decimal places, e.g. 52.75.) J. Seligman 297.60 L. Marshall 148.80 R. Eby 148.89 T. Olson LINK TO TEXT 8:15 PM ?? ) 6/25/2018

Solution

J. Seligman 367.2 =(4800*6.2%)+(4800*1.45%) L. Marshall 156.4 =(117000-115600)*6.2%+(4800*1.45%) R. Eby 218.4 =(117000-114600)*6.2%+(4800*1.45%) T. Olson 69.6 =(4800*1.45%)