3-5B . LO 3 See Example 3-1 on page 3-11 SHOW ME HOW In 20-- the annual salaries paid each of the officers of Perez, Inc., follow. The officers are...
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3-5B . LO 3
See Example 3-1 on page 3-11
SHOW
ME HOW
In 20-- the annual salaries paid each of the officers of Perez, Inc., follow. The officers are paid semimonthly on the
15th and the last day of the month. Compute the FICA taxes to be withheld from each officer's pay on (a) November
15 and (b) December 31.
November 15
OASDI
Annual
Taxable
HI
Name and Title
Salary
OASDI
Earnings
Taxable
HI
Tax
6250 Perez, Paul, President
Earnings
Tax
$150,000
5375 Donald, Donna, VP Finance
129,000
6250
90. 63
3200 Funke, Jack, VP Sales
76,800
3 850 Weis, Al, VP Mfg.
3200
3850
198.40
5375
77 , 94
92,400
3200
16. 40
3250Lang, Hope, VP Personnel
78,000
52,800
3250
238170
3850
201,50
3250
55, 83
2200 Lee, Amy, VP Secretary
-2200
136, 40
2200
47 , 13
31. 90
December 31
OASDI
HI
Annual
Taxable
OASDI
Taxable
Name and Title
Salary
Earnings
Tax
Earnings
Tax
Perez, Paul, President
$150,000
Donald, Donna, VP Finance
129,000
Funke, Jack, VP Sales
76,800
Weis, Al, VP Mig.
92,400
Lang, Hope, VP Personnel
78,000
Lee, Amy, VP Secretary
52,800
3-54

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