Question

The names of the employees of Hogan Thrift Shop are listed on the following payroll register. Employees are paid weekly. The marital status and the number of allowances claimed are shown on the payroll register, along with each employee's weekly salary, which has remained the same all year. Complete the payroll register for the payroll period ending December 20, the 51st weekly payday. The state income tax rate is 2% of total earnings, the city income tax rate is 1.5% of the total gross earnings, and thewage-bracket method is used for federal income taxes. Hint: If wages are higher than the last amount on the appropriate wage-bracket table, the percentage method must be used.

Enter all amounts as positive numbers. Round your calculations and final answers to the nearest cent.

Click here to access the Table of Allowance Values.

Click here to access the Wage-Bracket Method Tables.

Click here to access the Percentage Method Tables.

Hogan Thrift Shop Payroll Register
FOR PERIOD ENDING December 20, 20--					Deductions
Employee Name	Marital Status	No. of W/H Allowances	Total Earnings
					(a) FICA		(b)	(c)	(d)	(e)
					OASDI	HI	FIT	SIT	CIT	Net Pay
John, Matthew	M	0	$2,524.00		$	$	$	$	$	$
Smith, Jennifer	S	3	275.00
Bullen, Catherine	M	3	250.00
Matthews, Mary	M	5	320.25
Hadt, Bonnie	S	5	450.00
Camp, Sean	S	4	560.50
Wilson, Helen	M	5	475.50
Gleason, Josie	S	0	890.00
Totals			$5,745.25		$	$	$	$	$	$

Compute the employer's FICA taxes for the pay period ending December 20.

OASDI Taxes		HI Taxes
OASDI taxable earnings	$	HI taxable earnings	$
OASDI taxes	$	HI taxes	$

Answer 1

PAYROLL REGISTER

FOE THE PERIOD ENDING DECEMBER 20,

EMPLOYEE NAME	MS	NO. OF WITH ALLOW	TOTAL EARNINGS	DEDUCTIONS					(e) NET PAY
				(a) FICA		(b) FIT	(c) SIT	(d) CIT
				OASDI	HI
JOHN, MATHEW	M	3	$2524.00	$156.50	$36.60	$161	$50.48	$37.86	$2081.56
SMITH, JENNIFER	S	2	$275.00	$17.05	$3.99	$16.39	$5.5	$4.13	$227.94
BULLEN, CATHERINE	M	0	$250.00	$15.50	$3.63	$9.80	$5	$3.75	$212.32
MATTHEWS, MARY	S	2	$320.25	$19.86	$4.64	$6.68	$6.41	$4.80	$277.86
HADT, BONNIE	S	2	$450.00	$27.90	$6.53	$42.63	$9	$6.75	$357.19
CAMP, SEAN	S	4	$560.50	$34.75	$8.13	$48.53	$11.21	$8.41	$449.47
WILSON, HELEN	S	1	$475.50	$29.48	$6.89	$46.45	$9.51	$7.13	$376.04
GLEASON, JOSIE	M	5	$890.00	$55.18	$12.91	$62.33	$17.80	$13.35	$728.43
TOTALS			$5745.25	$356.22	$83.32	$393.81	$114.91	$86.18	$4710.81

OASDI TAXES HI TAXES

• OASDI TAXABLE EARNINGS = $5745.25
• HI TAXABLE EARNINGS = $5745.25
• OASDI TAXES = $ 356.22
• HI TAXES = $ 83.32
• OASDI = 6.2%
• HI = 1.45%
• SIT = 2%
• CIT = 1.5%