Question

Part III The following data applies to the November 16 payroll for the Hohnstock Automobile Repair Co. Employee Name Pay Rate Hours Worked Cumulative Department Federal Income Tax Withheld Susy Brint $2,050/wk Salaried $ 95,928.50 Office $141.86 Doug Fowler 14.82 51 35,754.28 Shop 41.26 Tom McMann 17.67 46 36,705.00 Shop 76.29 Dong Fowler Tom McMann Assume: FICA-OASDI is 6.2% based on a ceiling of $91,200. FICA-Medicare is 1.45% FUTA is.8% based on a ceiling of $7,000 SUTA is 5.6% based on a ceiling of $7,000 Susy Brint 1. Compute the total regular earnings 2. Compute the total overtime earnings 3. Compute the total gross earnings 1. Compute the employees' FICA-OASDI 5. Compute the employees' FICA-Medicare Part IV

Answer 1

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Answer is highlighted in yellow: Solution: 1) 2) 3) 4) 5) Susy Brint Doug Fowler Tom Mcmann Total regular earnings (14.82*40); (17.67*40) $2,050.00 $ 592.80 $ 706.80 Total Overtime [(11)*(14.82*150%)] 0.00 $ 244.53 $ 159.03 (6) * (17.67*150%) Total Gross earnings (Regular + Overtime) $ 2,050.00 $ 837.33 $ 865.83 FICA -OASDI (837.33*6.2%) (865.83*6.2%) 0.00 $ 51.91 $ 53.68 FICA-Medicare (2050*1.45%) (837.33*1.45%) $ 29.73 $ 12.14 $ 12.55