GLEESON BREWING COMPANY Hours Annual Regular Earnings Overtime Total Earnings Employee Won, H. Park, B. James, R. Oho, J. Mack, K. Salary Worked Bonus Earnings $99,840/yr. 96,200/yr. 7,280/mo. 5,265/mo. 3,400/mo. 40 $35,000 25,000 20,000 15,000 8,000 40 40 40 46 Totals (left side) GLEESON BREWING COMPANY Cumulative Earnings as of Last Pay Period FICA Taxable Wages This Pay Period FICA Taxes to Be Withheld Employee OASDI HI OASDI HI $94,080.00 90,650.00 82,320.00 59,535.00 38,446.38 Won, H. Park, B. James, R. Oho, J. Mack, K. Totals (right side) Employer's FICA taxes for week ended December 13, 2019: OASDI HI 3-68
GLEESON BREWING COMPANY Hours Annual Regular Earnings Overtime Total Earnings Employee Won, H. Park, B. James, R. Oho, J. Mack, K. Salary Worked Bonus Earnings $99,840/yr. 96,200/yr. 7,280/mo. 5,265/mo. 3,400/mo. 40 $35,000 25,000 20,000 15,000 8,000 40 40 40 46 Totals (left side) GLEESON BREWING COMPANY Cumulative Earnings as of Last Pay Period FICA Taxable Wages This Pay Period FICA Taxes to Be Withheld Employee OASDI HI OASDI HI $94,080.00 90,650.00 82,320.00 59,535.00 38,446.38 Won, H. Park, B. James, R. Oho, J. Mack, K. Totals (right side) Employer's FICA taxes for week ended December 13, 2019: OASDI HI 3-68
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
At Gleeson Brewing 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, 2019 (50th payday of the year). In addition, with this pay, these employees are paid their slidingscale 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.
Transcribed Image Text:GLEESON BREWING COMPANY
Hours
Annual
Regular
Earnings
Overtime
Total Earnings
Employee
Won, H.
Park, B.
James, R.
Oho, J.
Mack, K.
Salary
Worked
Bonus
Earnings
$99,840/yr.
96,200/yr.
7,280/mo.
5,265/mo.
3,400/mo.
40
$35,000
25,000
20,000
15,000
8,000
40
40
40
46
Totals
(left side)
GLEESON BREWING COMPANY
Cumulative Earnings
as of Last Pay Period
FICA Taxable Wages
This Pay Period
FICA Taxes
to Be Withheld
Employee
OASDI
HI
OASDI
HI
$94,080.00
90,650.00
82,320.00
59,535.00
38,446.38
Won, H.
Park, B.
James, R.
Oho, J.
Mack, K.
Totals
(right side)
Employer's FICA taxes for week ended December 13, 2019:
OASDI
HI
3-68
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