Haggerty Company pays its salaried employees monthly on the last day of each month. The annual salary payroll for 20-- follows. Compute the following for the payroll of December 31: If an amount is zero, enter "0". Round your answers to the nearest cent. Employee Annual Salary OASDI Taxable Wages OASDI Tax Stern, Myra Lundy, Hal Franks, Rob Haggerty, Alan Ward, Randy Hoskin, Al Wee, Pam Prince, Harry Maven, Mary Harley, David Totals $42,150 39,500 46,000 Employer's OASDI Tax Employer's HI Tax 161,280 40,800 39,600 106,800 76,800 52,000 68,960 $673,890.00 $ $ HI Taxable Wages HI Tax

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Wallington Company has 100 employees, each earning $525.25 a week.
OASDI
Amount of OASDI tax withheld from each employee's paycheck each week:
Total tax withheld from the 100 employees' wages:
Tax on employer:
HI
Amount of HI tax withheld from each employee's paycheck each week:
Total tax withheld from the 100 employees' wages is:
Tax on employer:
39,500
Employer's OASDI Tax
Employer's HI Tax
46,000
161,280
40,800
39,600
106,800
76,800
52,000
68,960
$673,890.00
$32.57
$3,257.00
$3,256.55
Haggerty Company pays its salaried employees monthly on the last day of each month. The annual salary payroll for 20-- follows. Compute the following for the payroll of December 31:
If an amount is zero, enter "0". Round your answers to the nearest cent.
OASDI Taxable Wages
OASDI Tax
Employee
Stern, Myra
Annual Salary
$42,150
Lundy, Hal
Franks, Rob
Haggerty, Alan
Ward, Randy
Hoskin, Al
Wee, Pam
Prince, Harry
Maven, Mary
Harley, David
Totals
$7.62
$762.00
$761.61
(6.2% x $525.25)
($32.57 x 100)
[6.2% x ($525.25 x 100)]
(1.45% x $525.25)
($7.62 x 100)
[1.45% x ($525.25 x 100)]
HI Taxable Wages
$
HI Tax
Transcribed Image Text:Wallington Company has 100 employees, each earning $525.25 a week. OASDI Amount of OASDI tax withheld from each employee's paycheck each week: Total tax withheld from the 100 employees' wages: Tax on employer: HI Amount of HI tax withheld from each employee's paycheck each week: Total tax withheld from the 100 employees' wages is: Tax on employer: 39,500 Employer's OASDI Tax Employer's HI Tax 46,000 161,280 40,800 39,600 106,800 76,800 52,000 68,960 $673,890.00 $32.57 $3,257.00 $3,256.55 Haggerty Company pays its salaried employees monthly on the last day of each month. The annual salary payroll for 20-- follows. Compute the following for the payroll of December 31: If an amount is zero, enter "0". Round your answers to the nearest cent. OASDI Taxable Wages OASDI Tax Employee Stern, Myra Annual Salary $42,150 Lundy, Hal Franks, Rob Haggerty, Alan Ward, Randy Hoskin, Al Wee, Pam Prince, Harry Maven, Mary Harley, David Totals $7.62 $762.00 $761.61 (6.2% x $525.25) ($32.57 x 100) [6.2% x ($525.25 x 100)] (1.45% x $525.25) ($7.62 x 100) [1.45% x ($525.25 x 100)] HI Taxable Wages $ HI Tax
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