The names of the employees of Hogan Thrift Shop are listed on the following payr

Question

The names of the employees of Hogan Thrift Shop are listed on the following payroll register. Employees are paid weekly. The marital status and the number of allowances claimed are shown on the payroll register, along with each employee's weekly salary, which has remained the same all year, complete the payroll register for the payroll period ending December 22, the 51st weekly payday. The state income tax rate is 2% of total earnings, the city income tax rate is 1.5% of the total gross earnings, and the wage-bracket method is used for federal income taxes. Enter all amounts as positive numbers. Round your calculations and final answers to the nearest cent. Click here to access the Table of Alowance Values. Click here to access the Wage Bracket Method Tables Click here to access the Percentage Method Tables for earnings beyond wage-bracket range Hogan Thrift Shop Payroll Register Deductions (a) FICA Marital No. of W/H Total OASDI HI FIT SIT CIT Net Pay Employee Name Status Allowances Earnings Johrn, Matthew Smith, Jennifer Gullen, CatherineS Matthews, Mary S Hadt, Bonnle Camp, Sean wilson, Helen Gleason, Josle Totals $2,350.00 275.00 250.00 320.25 450.00 560.50 475.50 890.00 $5,571.25 Compute the employer's FICA taxes for the pay period ending December 22. OASDI Taxes OASDI taxable earnings OASDI taxes HI Taxes HI taxable eamings Hi taxes

Explanation / Answer

HOGAN THRIFT SHOP PAYROLL REGISTER FOR PERIOD ENDING December 22, 2017 MARITAL STATUS NO. OF W/H ALLOW. TOTAL DEDUCTIONS ( a ) ( b ) (c) ( d ) Net Pay FICA EMPLOYEE NAME EARNINGS OSADI @6.2% HI @ 1.45 FIT SIT @ 2% CIT @ 1.5% John, Matthew M 1 2350 $145.7 34.075 362.575 47 35.25 $1,725.4 Smith, Jennifer S 0 275 $17.05 3.9875 27.5 5.5 4.125 $216.84 Bullen, Catherine M 4 250 $15.5 3.625 0 5 3.75 $222.13 Matthews, Mary S 1 320.25 $19.86 4.643625 20.715 6.405 4.80375 $263.83 Hadt, Bonnie S 0 450 $27.9 6.525 $28.40 9 6.75 $371.43 Camp, Sean S 1 560.5 $34.75 8.12725 56.79 11.21 8.4075 $441.21 Wilson, Helen S 2 475.5 $29.48 6.89475 15.37 9.51 7.1325 $407.11 Gleason, Jose M 2 890 $55.18 12.905 67.28 17.8 13.35 $723.49 Totals 5571.25 $345.42 80.783125 578.63 111.425 83.56875 $4,371.43 Compute the employer's FICA taxes for the pay period ending December 22. OASDI Taxes HI Taxes OASDI taxable earnings 5571.25 HI taxable earnings 5571.25 OASDI taxes $345.42 HI taxes 80.783125 FIT for year 2017 Matthew John = 2350 - (1 x 77.90) = 2272.10 - 1626 = 646.1 (.25) + 201.05 362.575 Smith = 275 - (0 x 77.90) = 275 - 0 = 275 (.10) + 0 27.5 Bullen = 250 - (4 x 77.90) = 250 - 311.6 = -61.6 0 Mary = 320 - (1 x 77.90) = (242.1 - 224) x .15 + 18 20.715 Hadt = 450 - (0 x 77.90) = 450 - 166 = 284 (.10) + 0 $28.40 Camp = 560.50 x (1 x 77.90) = 482.6 - 224 = 258.6 x .15 +18 56.79 Wilson = 475.50 x (2 x 77.90) = 319.7- 166 = 153.7 x .10 + 0 15.37 Gleason = 890 x (2 x 77.90) = 734.2 - 525 = 209.2 x .15 + 35.90 67.28

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