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

Dear Student,

Best effort has been made to give quality and correct answer. But if you find any issues please comment your concern. I will definitely resolve your query.

ekkarill92 answered 1 year ago

Problem Information Use the following tax rates, ceiling and maximum taxes: Employee and Employer OASDI: 6.20%...

Problem Information Use the following tax rates, ceiling and maximum taxes: Employee and Employer OASDI: 6.20% $127,200 $7,886.40 Employee* and Employer HI: 1.45% No limit No maximum Self-employed OASDI: 12.4% $127,200 $15,772.80 Self-employed HI: 2.9% No limit No maximum *Employee HI: Plus an additional 0.9% on wages over $200,000. Also applicable to self-employed. Rounding Rules: Unless instructed otherwise compute hourly rate and overtime rates as follows: Carry the hourly rate and the overtime rate to 3 decimal places and then...

1. May an employer fire an employee because that employee is gay? 2. May an employer...

1. May an employer fire an employee because that employee is gay? 2. May an employer fire an employee because the employee smokes outside the workplace? 3. May a man file a claim of sexual discrimination? Sexual harassment? 4. What rights does an employee have in the workplace? 5. What defenses does an employer have to allegations of discrimination?

C++ Task: Compute the weekly pay for each employee at the Wahoo Widget Company. For each...

C++ Task: Compute the weekly pay for each employee at the Wahoo Widget Company. For each employee, you will calculate the base pay according to the appropriate salary category, and then subtract taxes and deductions. Write the program in C++ only. Input: For each employee, read an employee ID (a 4-digit integer) and a salary category code (see below). Then read whatever other information might be needed to compute a net salary for that person. Because of occasional employee turn-over,...

1) What is an employee at will, why is it such an advantage to an employer?...

1) What is an employee at will, why is it such an advantage to an employer? 2) What is the difference between an independent contractor and an employee. What advantages are there for each? 3) Does discrimination in the workplace still exist? Are our laws effective in removing it?

ow might you ensure an organisation complies with the leave requirements for each employee under the...

ow might you ensure an organisation complies with the leave requirements for each employee under the NES? Discuss in 120–150 words

For this assignment, review how Employee Handbooks are instrumental in outlining the employer/employee relationship. This review...

For this assignment, review how Employee Handbooks are instrumental in outlining the employer/employee relationship. This review should include a discussion of the following typical Handbook contents: Employee Conduct and Discipline Employee Separation - Voluntary and Involuntary Employee Assistance Programs Employee Grievance Process Employee Leave Employee Use of Company Telephones, Company Equipment, Computers, and the Internet Employee Use of Personal Devices (BYOD)

How is an agency established by an employee so that an employer will be bound to...

How is an agency established by an employee so that an employer will be bound to the terms of a contract entered into by an employee of that employer?

a. Define the term ‘job satisfaction’ and How do employer measure employee job satisfaction? Describe each.

In the current HR employer-employee relations, there’s more emphasis on improved employee degree of autonomy and...

In the current HR employer-employee relations, there’s more emphasis on improved employee degree of autonomy and responsibility. HR is also placing more focus on employability. Use a real bussenis example (apple company) to discuss what is meant by empowerment era, employability and the benefits, costs and effects of employability. essay , about 250 words

Suppose an employee was terminated by their employer for failing to adhere to the company's "Don't...

Suppose an employee was terminated by their employer for failing to adhere to the company's "Don't be a hero" policies or chasing after a suspected thief instead of calling authorities as instructed by their employer. What legal recourse does the employee have?