Question: Example 3-1 Example 3-2 Wallington Company has 100 employees, each earning $525.25 a week. OASDI Amount of OASDI tax withheld from each employee's paycheck each
Example 3-1 Example 3-2 Wallington Company has 100 employees, each earning $525.25 a week. OASDI Amount of OASDI tax withheld from each employee's paycheck each week: $32.57 (6.2% x $525.25) Total tax withheld from the 100 employees' wages: $3,257.00 ($32.57 x 100) Tax on employer: $3,256.55 [6.2% x ($525.25 x 100)] HI Amount of HI tax withheld from each employee's paycheck each week: $7.62 (1.45% x $525.25) Total tax withheld from the 100 employees' wages is: Tax on employer: $762.00 $761.61 ($7.62 x 100) [1.45% x ($525.25 x 100)] Audrey Martin and Beth James are partners in the Country Gift Shop, which employs the individuals listed below. Paychecks are distributed every Friday to all employees. Based on the information given, compute the amounts listed below for a weekly payroll period. Hint: It is important to ascertain whether a person's wages are considered wages or drawings. If an amount is zero, enter "0". Round your answers to the nearest cent. OASDI Taxable Name and Position Salary Earnings Zena Vertin, Office Norge Sales $740 per week 1.650 per month $ OASDI Tax HI Taxable Earnings HI Tax 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: $7.62 (1.45% x $525.25) $762.00 ($7.62 x 100) $761.61 [1.45% x ($525.25 x 100)] Audrey Martin and Beth James are partners in the Country Gift Shop, which employs the individuals listed below. Paychecks are distributed e Friday to all employees. Based on the information given, compute the amounts listed below for a weekly payroll period. Hint: It is important t ascertain whether a person's wages are considered wages or drawings. If an amount is zero, enter "0". Round your answers to the nearest cent. OASDI Taxable Name and Position Salary Earnings Zena Vertin, Office Nicole Norge, Sales $740 per week 1,650 per month $ Bob Mert, Delivery 475 per week Audrey Martin, Partner 652 per week Beth James, Partner 652 per week Totals Employer's OASDI Tax Employer's HI Tax $ $ OASDI Tax HI Taxable Earnings HI Tax
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