Example 3-1 At Vision Club Company, office workers are employed for a...

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Accounting

Example 3-1
At Vision Club Company, office workers are employed for a 40-hour workweek and are quoted either a monthly or an annual salary (as indicated).
Given on the form below are the current annual and monthly salary rates for five office workers for the week ended December 13,20--(50th payday of the year). In addition, with this pay, these employees are paid their sliding-scale annual bonuses. The bonuses are listed on the register.
For each worker, compute the following. Round your answers to the nearest cent.
Regular earnings for the weekly payroll ended December 13,20--
Overtime earnings (if applicable)
Total regular, overtime earnings, and bonus
FICA taxable wages for this pay period
FICA taxes to be withheld for this pay period
VISION CLUB COMPANY
Weekly Payroll for Period Ending December 13,20--
FICA Taxable Wages
This Pay Period
FICA Taxes
to Be Withheld
Employee Salary Hours
Worked Annual
Bonus Regular
Earnings Overtime
Earnings Total Earnings Cumulative Earnings
as of Last Pay Period OASDI HI OASDI HI
Marx, A. $101,920/yr.40 $56,200 fill in the blank 1 of 41$
fill in the blank 2 of 41$
$96,040 fill in the blank 3 of 41$
fill in the blank 4 of 41$
fill in the blank 5 of 41$
fill in the blank 6 of 41$
Boxer, C.75,920/yr.4020,800 fill in the blank 7 of 41
fill in the blank 8 of 41
71,540 fill in the blank 9 of 41
fill in the blank 10 of 41
fill in the blank 11 of 41
fill in the blank 12 of 41
Lundy, R.5,408/mo.4017,200 fill in the blank 13 of 41
fill in the blank 14 of 41
61,152 fill in the blank 15 of 41
fill in the blank 16 of 41
fill in the blank 17 of 41
fill in the blank 18 of 41
Ruth, B.3,952/mo.4014,800 fill in the blank 19 of 41
fill in the blank 20 of 41
44,688 fill in the blank 21 of 41
fill in the blank 22 of 41
fill in the blank 23 of 41
fill in the blank 24 of 41
Gehrig, L.4,628/mo.486,600 fill in the blank 25 of 41
fill in the blank 26 of 41$
fill in the blank 27 of 41
52,332 fill in the blank 28 of 41
fill in the blank 29 of 41
fill in the blank 30 of 41
fill in the blank 31 of 41
Totals fill in the blank 32 of 41$
fill in the blank 33 of 41$
fill in the blank 34 of 41$
fill in the blank 35 of 41$
fill in the blank 36 of 41$
fill in the blank 37 of 41$
fill in the blank 38 of 41$
fill in the blank 39 of 41$
Employer's FICA taxes for week ended December 13,20--:
fill in the blank 40 of 41$
fill in the blank 41 of 41$
OASDI HI

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