OASDI Taxes HI Taxes OASDI taxable earnings HI taxable carnings OASDI taxes HI taxes FOR PROD NN DEDUCTIONS ENPLOYEE NAME REAR UPPL TOTAL GA Hall Michael Shovt Joy AM Linde Smih Aneph Tids, Sen M. Gllepie, Michelle Smart, Jeier Whie, Manhw J. Tals af
The names of the employees of Cox Security Systems and their regular salaries are shown in the following payroll register.Notethat Hall and Short are paid monthly on the last payday,while all others are paid weekly.
In addition to the regular salaries,the company pays an annual bonus based on the amount of earnings for the year.For the current year, the bonus amounts to 8% of the annual salary paid to each employee.The bonus is to be paid along with the regular salarieson December 27, but the amount of the bonus and the amount of the regular salary will be shown separately on each employee's earnjngs statement.Assume that all employees received their regular salary during the entire year.
Prepare the payroll for the pay period ending December 27,showing the following for each employee:
- Use the wage-brncket metl1od to withhold federal income tax from the regular salaries.
- Withhold a flat 22% on the annual bonus.
- Total salaries and bonuses are subject to a 2% state income tax and a 1% city income ta.x.
Monthly
Compute the employer's FIC...\ taxes for the pay period enrung December 27.
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