4-8A . LO 3 Lu Similar to Example 4-6 on page 4-19 The names of the employees of Cox Security Systems and their regular salaries are shown in the following payroll register. Noke that Hall and Shont ae paid monthly on the last payday, while all others are paid weekly In addition to the regular salaries, the company pays an annual bonus the bonus regular salary during the entire year s to 8% of the annual salary paid to each employee. The bonus s to be paid along with the regular alno, on l ased on the amount of earnings for the year. For the current year, the bomus un and the amount of the regular salary will be shown separately on each employee's carnings statement. Assume that December 29,but the aniount of Prepare the payroll for the pay period ending December 29, showing the following for each employee: Use the wage-bracket method to withhold federal income tax from the regular salaries withhold a flat 25% on the annual bonus. Total salaries and bonuses are subject to a 2% state income tax and a 1% city income tax. . FOR PERIOD ENDING EARNINGS DEDUCTIONS EMPLOYEE NAME ld) TOTAL OASDI Hall, Michael Short, Joy T Abbott, Linda Smith, Joseph Tols, Sean M Gillespie, Michelle S Smart, Jennifer M White, Matthew J. S0 M 55000 00 M 2 275000 520 00 6 5 00 80 00 50 00 M4 M 2 2 0 4 57 25 00 Totals Monthly Compute the employer's FICA taxes for the pay period ending December 29 OASDI Taxes HI Taxes OASDI taxable earnings OASDI taxes HI taxable earnings HI taxes