Question

Marlene Grady and Pauline Monroe are partners engaged in operating The G&M Doll Shop, which has employed the following persons since the beginning of the year:

V. Hoffman (general office worker)	$2,300		per month
A. Drugan (saleswoman)	$15,000		per year
G. Beiter (stock clerk)	$181		per week
S. Egan (deliveryman)	$300		per week
B. Lin (cleaning and maintenance, part-time)	$165		per week

Grady and Monroe are each paid a weekly salary allowance of $900.

The doll shop is located in a state that requires unemployment compensation contributions of employers of one or more individuals. The company is subject to state contributions at a rate of 3.1% for wages not in excess of $7,900.

Compute each of the following amounts based upon the 41st weekly payroll period for the week 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".

a. Amount of FICA taxes (OASDI and HI) to be withheld from the earnings of each person.

	Taxable Earnings	OASDI	HI
M. Grady	$900.00	$	$
P. Monroe	900.00
V. Hoffman	530.77
A. Drugan	288.46
G. Beiter	181.00
S. Egan	300.00
B. Lin	165.00

b. Amount of the employer's FICA taxes for the weekly payroll.

Taxable payroll	$
OASDI	$
HI	$

c. Amount of state unemployment contributions for the weekly payroll.
$

d. Amount of the net FUTA tax on the payroll.
$

e. Total amount of the employer's payroll taxes for the weekly payroll.
$

Answer 1

Old Answer of @ Amount of FICA taxes to be withheld from the Earnings or sach parents Taxable OEE Earnings LOADIBat. 111 1.4541 m. Goody $ 900 Pimonroe $ 900 $0 Ni Holleman 53077 30:91 A. Drugan 288.46 17.88 4.18 G... Beiten 181.oo 11:22 2.63 SEgan 300.00 18.6 4.35 12.11n 165.00 10.23 2.39 Total 90.84 81.25 3) Grady and monroc (partnerf ole not faced under FICA). Amount the employers FICA aules for the weekly payroll - Taxable payroll $1465:23 DASD $90.84 HO sous $112.09 => 90.84781.25

©. Amount of state unemployment contributory for wrekedy gayrell : @ $7,900 as the SUTA limit 47,100 and are the only employe, stile paying stel comanda unemployment contributions, = ) $181 + $165 = $346 X 3.1.1. =$10.73 - Amount of slete un employment contributions for exekly payroll = 410143 Amount of the met FUTA tax on the payroll :- 165 x 0.8 4. $138 . Amount of met Ferm tax on papel =$1:32 O Tolal amount of the employe's payroll fourcs for the cox etetly payrolt:- - FICA + suta t Futa 118.09 + 10.73 +132 = 124.14 :: Total amount of the Employe's payroll -faves= }134.14 |