Homework Help is Here – Start Your Trial Now!
Business
Accounting
At Vision Club Company, office workers are employed for a 40-hour workweek on either an annual or a monthly salary basis. Given on the form below are the current annual and monthly salary rates for five office workers for the week ended December 13, 20- (50th payday of the year). In addition, with this pay, these employees are paid their sliding- scale annual bonuses. The bonuses are listed on the register. For each worker, compute: 1. Regular earnings for the weekly payroll ended December 13, 20-. 2. Overtime earnings (if applicable). 3. Total regular, overtime earnings, and bonus. 4. FICA taxable wages for this pay period. 5. FICA taxes to be withheld for this pay period. VISION CLUB COMPANY Regular Earnings Hours Annual Overtime Employee Salary Worked Bonus Earnings Total Earnings $97,240/yr. 91,000/yr. 6,240/mo. 4,680/mo. 4,900/mo. Marx, A. Вохer, C. $50,000 25,000 20,000 15,000 8,000 40 40 Lundy, R. Ruth, B. Gehrig, L. Totals 40 40 48 (left side) VISION CLUB COMPANY Cumulative Earnings as of Last Pay Period FICA Taxable Wages This Pay Period FICA Taxes to Be Withheld Employee OASDI HI OASDI HI $91,630.00 85,750.00 70,560.00 52,920.00 34,890.00 Marx, A. Вохеr, С. Lundy, R. Ruth, B. Gehrig, L. Totals (right side) Employer's FICA taxes for week ended December 13, 20-: $ OASDI HI

At Vision Club Company, office workers are employed for a 40-hour workweek on either an annual or a monthly salary basis. Given on the form below are the current annual and monthly salary rates for five office workers for the week ended December 13, 20- (50th payday of the year). In addition, with this pay, these employees are paid their sliding- scale annual bonuses. The bonuses are listed on the register. For each worker, compute: 1. Regular earnings for the weekly payroll ended December 13, 20-. 2. Overtime earnings (if applicable). 3. Total regular, overtime earnings, and bonus. 4. FICA taxable wages for this pay period. 5. FICA taxes to be withheld for this pay period. VISION CLUB COMPANY Regular Earnings Hours Annual Overtime Employee Salary Worked Bonus Earnings Total Earnings $97,240/yr. 91,000/yr. 6,240/mo. 4,680/mo. 4,900/mo. Marx, A. Вохer, C. $50,000 25,000 20,000 15,000 8,000 40 40 Lundy, R. Ruth, B. Gehrig, L. Totals 40 40 48 (left side) VISION CLUB COMPANY Cumulative Earnings as of Last Pay Period FICA Taxable Wages This Pay Period FICA Taxes to Be Withheld Employee OASDI HI OASDI HI $91,630.00 85,750.00 70,560.00 52,920.00 34,890.00 Marx, A. Вохеr, С. Lundy, R. Ruth, B. Gehrig, L. Totals (right side) Employer's FICA taxes for week ended December 13, 20-: $ OASDI HI

Financial & Managerial Accounting
Financial & Managerial Accounting
13th Edition
ISBN:9781285866307
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter10: Current Liabilities And Payroll
Section: Chapter Questions
Problem 10.4BPR
See similar textbooks
icon
Related questions
Question
3-17A • LO 2, 3 See Example 3-1 on page 3-11 At Vision Club Company, office workers are employed for a 40-hour workweek on either an annual or a monthly salary basis. Given on the form below are the current annual and monthly salary rates for five office workers for the week ended December 13, 20- (50th payday of the year). In addition, with this pay, these employees are paid their sliding- scale annual bonuses. The bonuses are listed on the register. For each worker, compute: 1. Regular earnings for the weekly payroll ended December 13, 20--. 2. Overtime earnings (if applicable). 3. Total regular, overtime earnings, and bonus. 4. FICA taxable wages for this pay period. 5. FICA taxes to be withheld for this pay period. VISION CLUB COMPANY Regular Earnings Hours Annual Overtime Employee Salary Worked Bonus Earnings Total Earnings Marx, A. Вохеr, C. Lundy, R. Ruth, B. Gehrig, L. Totals $97,240/yr. 91,000/yr. 6,240/mo. 4,680/mo. 4,900/mo. $50,000 25,000 20,000 15,000 8,000 40 40 40 40 48 (left side) VISION CLUB COMPANY Cumulative Earnings as of Last Pay Period FICA Taxable Wages This Pay Period FICA Taxes to Be Withheld Employee OASDI HI OASDI HI $91,630.00 85,750.00 70,560.00 52,920.00 34,890.00 Marx, A. Вохег, С. Lundy, R. Ruth, B. Gehrig, L. Totals (right side) Employer's FICA taxes for week ended December 13, 20-: OASDI HI
Transcribed Image Text:3-17A • LO 2, 3 See Example 3-1 on page 3-11 At Vision Club Company, office workers are employed for a 40-hour workweek on either an annual or a monthly salary basis. Given on the form below are the current annual and monthly salary rates for five office workers for the week ended December 13, 20- (50th payday of the year). In addition, with this pay, these employees are paid their sliding- scale annual bonuses. The bonuses are listed on the register. For each worker, compute: 1. Regular earnings for the weekly payroll ended December 13, 20--. 2. Overtime earnings (if applicable). 3. Total regular, overtime earnings, and bonus. 4. FICA taxable wages for this pay period. 5. FICA taxes to be withheld for this pay period. VISION CLUB COMPANY Regular Earnings Hours Annual Overtime Employee Salary Worked Bonus Earnings Total Earnings Marx, A. Вохеr, C. Lundy, R. Ruth, B. Gehrig, L. Totals $97,240/yr. 91,000/yr. 6,240/mo. 4,680/mo. 4,900/mo. $50,000 25,000 20,000 15,000 8,000 40 40 40 40 48 (left side) VISION CLUB COMPANY Cumulative Earnings as of Last Pay Period FICA Taxable Wages This Pay Period FICA Taxes to Be Withheld Employee OASDI HI OASDI HI $91,630.00 85,750.00 70,560.00 52,920.00 34,890.00 Marx, A. Вохег, С. Lundy, R. Ruth, B. Gehrig, L. Totals (right side) Employer's FICA taxes for week ended December 13, 20-: OASDI HI
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 5 steps with 5 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Payroll register
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Financial & Managerial Accounting
Financial & Managerial Accounting
Accounting
ISBN:
9781285866307
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Corporate Financial Accounting
Corporate Financial Accounting
Accounting
ISBN:
9781305653535
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS