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payroll accounting chapter 4

At  Haddon,  Inc.,  the  office  workers  are  employed  for  a  40-hour workweek.  All workers are entitled to overtime pay for all hours worked beyond 40 each workweek at 1½ times the regular hourly rates.On  the  form  below,  complete  the  amounts  for  each  worker  for  the Note: Carry each overtime-hourly rate out to 3 decimal places and then round off to 2 decimal places.All employees’ wages are subject to the OASDI tax of 6.2% and HI tax of 1.45%.Note: Carry each overtime-hourly rate out to 3 decimal places and then round off to 2 decimal places.All employees’ wages are subject to the OASDI tax of 6.2% and HI tax of 1.45%.Use the 2020 wage-bracket tables with Forms W-4 from 2020 in your text to determine the amount of federal income tax (standard) to be withheld.  For salaried employees, use the percentage method.All workers are employed in a state that imposes a 2% income tax on the gross wages earned by each worker.Use the 2020 wage-bracket tables with Forms W-4 from 2020 in your text to determine the amount of federal income tax (standard) to be withheld.  For salaried employees, use the percentage method.All workers are employed in a state that imposes a 2% income tax on the gross wages earned by each worker.week ended December 17, 2021.  Only M. King is close to FICA limits.  As of the last pay period before this one, he has cumulative earnings of $137,200.

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