Lester & Brittany are partners engaged in operating the Barbie Shop, which has employed the...
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Finance
Lester & Brittany are partners engaged in operating the Barbie Shop, which has employed the following persons since the beginning of the year.
Valdez (general office worker) $2,700 per month
Chubb (salesmen) $17,000 per year
Wine (stock clerk) $180 per week
Egan (deliveryman) $280 per week
Marie (cleaning and Maintenace, part time) $165 per week
Lester & Brittany are each paid a weekly salary allowance of $1,650. The Barbie shop is located in a state that requires unemployment compensation contributions of employer of one or more individuals. The company is subject to state contributions at a rate of 3.1% for wages not in excess of $8,100.
Compute each of the following amounts based upon the 41st weekly payroll period for the weekend ending October 11. Round your intermediate calculations and final answers to the nearest cent. Use rounded answers in subsequent computations. If an amount is zero, enter 0.
Amount of FICA taxes (OASDI & HI) to be withheld from the earnings of each person.
Taxable Earnings
OASDI
HI
Lester
$1,650
Brittany
$1,650
Valdez
$623.08
Chubb
$326.92
Wine
$180.00
Egan
$280.00
Marie
$165.00
Amount of the employers FICA taxes for the weekly payroll.
Taxable payroll $______
Oasdi $______
HI $_____
Amount of state unemployment contributions for the weekly payroll. $____
Amount of the net FUTA tax on the payroll. $______
Total amount of the employers payroll taxes for the weekly payroll. $______
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