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mployee earnings records for Oriole Company reveal the following gross earnings for four employees through the pay period of ecember 15. J. Seligman $90,700 L. Marshall $125,300 R. Eby $113,600 T. Olson $130,700

mployee earnings records for Oriole Company reveal the following gross earnings for four employees through the pay period of ecember 15. J. Seligman $90,700 L. Marshall $125,300 R. Eby $113,600 T. Olson $130,700

College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter7: Employee Earnings And Deductions
Section: Chapter Questions
Problem 3E
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rrent Attempt in Progress Employee earnings records for Oriole Company reveal the following gross earnings for four employees through the pay period of December 15. J. Seligman $90,700 L. Marshall $125,300 R. Eby $113,600 T. Olson $130,700 For the pay period ending December 31, each employee's gross earnings is $4,500. The 7.65% FICA tax rate consists of the Social Security tax rate of 6.20% on salaries and wages up to $128,400 and the Medicare tax rate of 1.45% on all salaries and wages. Compute the FICA withholdings that should be made for each employee for the December 31 pay period. (Round answers to 2 decimal places, e.g. 52.75.) J. Seligman $ L. Marshall $ R. Eby $ T. Olson $ eTextbook and Media
Transcribed Image Text:rrent Attempt in Progress Employee earnings records for Oriole Company reveal the following gross earnings for four employees through the pay period of December 15. J. Seligman $90,700 L. Marshall $125,300 R. Eby $113,600 T. Olson $130,700 For the pay period ending December 31, each employee's gross earnings is $4,500. The 7.65% FICA tax rate consists of the Social Security tax rate of 6.20% on salaries and wages up to $128,400 and the Medicare tax rate of 1.45% on all salaries and wages. Compute the FICA withholdings that should be made for each employee for the December 31 pay period. (Round answers to 2 decimal places, e.g. 52.75.) J. Seligman $ L. Marshall $ R. Eby $ T. Olson $ eTextbook and Media
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