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This is a payroll problem. Could you please explain A,B 3....

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Accounting

This is a payroll problem. Could you please explain A,B
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3. If the third decimal place is less than 5, simply drop the third decimal place. Examples: Monthly rate $1,827 Weekly rate ($1,827 x 12)/52 $421.615 rounded to $421.62 Hourly rate $421.62/40 = $10.540 rounded to $10.54 O.T. rate $10.54 x 1.5 - $15.81 Also, use the minimum hourly wage of $7.25 in solving these problems and all that follow. Employee HI: Plus an additional 0.9% on wages over $200,000. Also applicable to self-employed. Example 3-1 Eric Sherm began working as a part-time waiter on April 1, 2019, at Yardville Restaurant. The cash tips of $475 that he received during April were reported on Form 4070, which he submitted to his employer on May 1. During May, he was paid wages of $630 by the restaurant. Compute OASDI and HI; round your answers to the nearest cent. OASDI HI a. The amount of FICA taxes that the employer should withhold from Sherm's wages during May. b. The amount of the employer's FICA taxes on Sherm's wages and tips during May. Check My Work 2 more Check My Work uses remaining. Previous Next Save and Ex Submit asigrnment for Grad

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