Marlene Grady and Pauline Monroe are partners engaged in operating The G&M Doll Shop, which has employed the following persons since the beginning of the year: V. Hoffman (general office worker) $1,700 per month A. Drugan (saleswoman) $15,000 per year G. Beiter (stock clerk) $180 per week S. Egan (deliveryman) $220 per week B. Lin (cleaning and maintenance, part-time) $160 per week Grady and Monroe are each paid a weekly salary allowance of $950. The doll shop is located in a state that requires unemployment compensation contributions of employers of one or more individuals. The company is subject to state contributions at a rate of 3.1% for wages not in excess of $8,100. Compute each of the following amounts based upon the 41st weekly payroll period for the week ending October 11. Round your intermediate calculations and final answers to the nearest cent. Use rounded answers in subsequent computations. If an amount is zero, enter "0". a. Amount of FICA taxes (OASDI and HI) to be withheld from the earnings of each person. Taxable Earnings OASDI HI M. Grady $950.00 0 0 P. Monroe 950.00 0 0 V. Hoffman 392.31 24.32 5.69 A. Drugan 288.46 17.88 4.18 G. Beiter 180.00 11.16 2.61 S. Egan 220.00 13.64 3.19 B. Lin 160.00 9.92 2.32 b. Amount of the employer's FICA taxes for the weekly payroll. Taxable payroll 1,240.77 OASDI 76.93 HI 17.99 c. Amount of state unemployment contributions for the weekly payroll. $fill in the blank 18 d. Amount of the net FUTA tax on the payroll. $fill in the blank 19 e. Total amount of the employer's payroll taxes for the weekly payroll. $fill in the blank 20 need help with C, D, and E
Marlene Grady and Pauline Monroe are partners engaged in operating The G&M Doll Shop, which has employed the following persons since the beginning of the year:
| V. Hoffman (general office worker) | $1,700 | per month |
| A. Drugan (saleswoman) | $15,000 | per year |
| G. Beiter (stock clerk) | $180 | per week |
| S. Egan (deliveryman) | $220 | per week |
| B. Lin (cleaning and maintenance, part-time) | $160 | per week |
Grady and Monroe are each paid a weekly salary allowance of $950.
The doll shop is located in a state that requires
Compute each of the following amounts based upon the 41st weekly payroll period for the week ending October 11. Round your intermediate calculations and final answers to the nearest cent. Use rounded answers in subsequent computations. If an amount is zero, enter "0".
a. Amount of FICA taxes (OASDI and HI) to be withheld from the earnings of each person.
| Taxable Earnings |
OASDI | HI | |
| M. Grady | $950.00 | 0 | 0 |
| P. Monroe | 950.00 | 0 | 0 |
| V. Hoffman | 392.31 | 24.32 | 5.69 |
| A. Drugan | 288.46 | 17.88 | 4.18 |
| G. Beiter | 180.00 | 11.16 | 2.61 |
| S. Egan | 220.00 | 13.64 | 3.19 |
| B. Lin | 160.00 | 9.92 | 2.32 |
b. Amount of the employer's FICA taxes for the weekly payroll.
| Taxable payroll | 1,240.77 |
| OASDI | 76.93 |
| HI | 17.99 |
c. Amount of state unemployment contributions for the weekly payroll.
$fill in the blank 18
d. Amount of the net FUTA tax on the payroll.
$fill in the blank 19
e. Total amount of the employer's payroll taxes for the weekly payroll.
$fill in the blank 20
need help with C, D, and E
Trending now
This is a popular solution!
Step by step
Solved in 4 steps
