The biweekly taxable wages for the employees of Rite-Shop follow.Compute the FICA taxes for each employee and the employer's FICA taxes. Round all computations to the nearest cent.FICA TaxesEmployee No. Employee NameBiweekly Taxable WagesOASDIHI711Castro, Manny$1,000.00512Corrales, Pat968.00624Guitar, Joseph1,004.00325Moore, Connie1,046.40422Morrison, Harry1,200.00210Robertson, Catherine1,044.80111Swarez, Joseph1.122.00TotalsEmployer's OASDITotal Taxable WagesEmployer's OASDI Tax

Under federal law, employers are required to deduct 6.2% of employees wages as his or her OASDI/EE…

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Compute the FICA taxes for each employee and the employer's FICA taxes. Round all computations to the nearest cent.

PAYROLL ACCT.,2019 ED.(LL)-TEXT

19th Edition

ISBN:9781337619783

Author:BIEG

Publisher:BIEG

Chapter3: Social Security Taxes

Section: Chapter Questions

Problem 1PB

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Question

The biweekly taxable wages for the employees of Rite-Shop follow.
Compute the FICA taxes for each employee and the employer's FICA taxes. Round all computations to the nearest cent.
FICA Taxes
Employee No. Employee Name
Biweekly Taxable Wages
OASDI
HI
711
Castro, Manny
$1,000.00
512
Corrales, Pat
968.00
624
Guitar, Joseph
1,004.00
325
Moore, Connie
1,046.40
422
Morrison, Harry
1,200.00
210
Robertson, Catherine
1,044.80
111
Swarez, Joseph
1.122.00
Totals
Employer's OASDI
Total Taxable Wages
Employer's OASDI Tax

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