VISION CLUB COMPANY Hours Worked Annual Bonus Regular Earnings Overtime Earnings Employee Total Earnings Marx, A. Вохе, С. Lundy, R. Ruth, B. Gehrig, L. Totals Salary $97,240/yr. 91,000/yr. 6,240/mo. 4,680/mo. 4,900/mo. 40 40 $40,000 25,000 20,000 15,000 8,000 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, 2019: $ $ OASDI HI

Financial & Managerial Accounting
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ISBN:9781285866307
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter15: Financial Statement Analysis
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Problem 15.17EX: Profitability ratios The following selected data were taken from the financial statements of...
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At vision club company office workers are emplyoed 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 13,2019(50th pay day 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 13,2019

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
Hours
Worked
Annual
Bonus
Regular
Earnings
Overtime
Earnings
Employee
Total Earnings
Marx, A.
Вохе, С.
Lundy, R.
Ruth, B.
Gehrig, L.
Totals
Salary
$97,240/yr.
91,000/yr.
6,240/mo.
4,680/mo.
4,900/mo.
40
40
$40,000
25,000
20,000
15,000
8,000
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)
Transcribed Image Text:VISION CLUB COMPANY Hours Worked Annual Bonus Regular Earnings Overtime Earnings Employee Total Earnings Marx, A. Вохе, С. Lundy, R. Ruth, B. Gehrig, L. Totals Salary $97,240/yr. 91,000/yr. 6,240/mo. 4,680/mo. 4,900/mo. 40 40 $40,000 25,000 20,000 15,000 8,000 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, 2019:
$
$
OASDI
HI
Transcribed Image Text:Employer's FICA taxes for week ended December 13, 2019: $ $ OASDI HI
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