Question

Haggerty Company pays its salaried employees monthly on the last day of each month. The annual salary payroll for 20-- follows. Compute the following for the payroll of December 31:

If an amount is zero, enter "0". Round your answers to the nearest cent.

Employee	Annual Salary	OASDI Taxable Wages	OASDI Tax	HI Taxable Wages	HI Tax
Stern, Myra	$42,150	$	$	$	$
Lundy, Hal	39,500
Franks, Rob	46,000
Haggerty, Alan	161,280
Ward, Randy	40,800
Hoskin, Al	39,600
Wee, Pam	106,800
Prince, Harry	76,800
Maven, Mary	52,000
Harley, David	68,960
Totals	$673,890.00	$	$	$	$

Employer's OASDI Tax	$
Employer's HI Tax	$

Answer 1

Computation of the payroll of December 31:

Employee	Annual Salary	OASDI Taxable Wages	OASDI Tax = 6.2%	HI Taxable Wages	HI Tax = 1.45%
Stern, Myra	$42,150	42,150.00	2,613.30	42,150.00	611.18
Lundy, Hal	39,500	39,500.00	2,449.00	39,500.00	572.75
Franks, Rob	46,000	46,000.00	2,852.00	46,000.00	667.00
Haggerty, Alan	161,280	128,400.00	7,960.80	161,280.00	2,338.56
Ward, Randy	40,800	40,800.00	2,529.60	40,800.00	591.60
Hoskin, Al	39,600	39,600.00	2,455.20	39,600.00	574.20
Wee, Pam	106,800	106,800.00	6,621.60	106,800.00	1,548.60
Prince, Harry	76,800	76,800.00	4,761.60	76,800.00	1,113.60
Maven, Mary	52,000	52,000.00	3,224.00	52,000.00	754.00
Harley, David	68,960	68,960.00	4,275.52	68,960.00	999.92
Totals	$673,890.00	641,010.00	39,742.62	673,890.00	9,771.41

Employer's OASDI Tax	$39,742.62
Employer's HI Tax	$9,771.41