Question

In: Accounting

Requirements: Compute the OASDI for each employee. Compute the HI for each employee. On the Employer...

Requirements:

Compute the OASDI for each employee.

Compute the HI for each employee.

On the Employer Register, compute the employer FICA liability.

Payroll Register

Complete the steps below:

Compute the OASDI for each employee.

Compute the HI for each employee.

Compute the totals for each tax.

Note: Round your final answers to the nearest cent.

Name	Gross	OASDI	HI	Ck. No.
KIPLEY COMPANY, INC. Employee Payroll Register For Period Ending January 8, 20--
	EARNINGS	DEDUCTIONS		NET PAY
Carson, F.	$700.00	$	$
Wilson, W.	897.04	$	$
Utley, H.	678.75	$	$
Fife, L.	877.10	$	$
Smith, L.	790.00	$	$
Fay, G.	539.15	$	$
Robey, G.	623.08	$	$
Schork, T.	773.08	$	$
Hardy, B.	666.11	$	$
Kipley	1,000.00	$	$

Totals		$	$	----

Employer Register

Complete the step below:

Enter the earnings upon which the employer liability will be computed.

Compute the employer FICA liability.

Note: Round your final answers to the nearest cent.

	Earnings	OASDI	HI
KIPLEY COMPANY, INC. Employer Register Payroll Taxes

Totals	$	$	$

Expert Solution

OASDI = 6.2% of the earnings

HI = 1.45% of the earnings

Employee Payroll Register
	EARNINGS	DEDUCTIONS
Name	Gross	OASDI	HI	Total
Carson, F.	$ 700.00	$ 43.40	$ 10.15	$ 53.55
Wilson, W.	$ 897.04	$ 55.62	$ 13.01	$ 68.62
Utley, H.	$ 678.75	$ 42.08	$ 9.84	$ 51.92
Fife, L.	$ 877.10	$ 54.38	$ 12.72	$ 67.10
Smith, L.	$ 790.00	$ 48.98	$ 11.46	$ 60.44
Fay, G.	$ 539.15	$ 33.43	$ 7.82	$ 41.24
Robey, G.	$ 623.08	$ 38.63	$ 9.03	$ 47.67
Schork, T.	$ 773.08	$ 47.93	$ 11.21	$ 59.14
Hardy, B.	$ 666.11	$ 41.30	$ 9.66	$ 50.96
Kipley	$ 1,000.00	$ 62.00	$ 14.50	$ 76.50
Totals	$ 7,544.31	$ 467.75	$ 109.39	$ 577.14

Employer Register
	EARNINGS	OASDI	HI	Total
Total	$ 7,544.31	$ 467.75	$ 109.39	$ 577.14

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ekkarill92 answered 2 years ago

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