Question
why is different the amount of OASDI TAX[ 116.11] WITH EMPLOYERS OASDI TAX[ 105.88] AND the same for the HI TAX
rce from Cengage Learning Google Chrome ent/takeAssignmentMain.do?invoker-assignments&takeAssignmentSessionLocator-assignment-take&inprogress-false eBook Calculator $32.57 $3,257.00 $3,256.55 (6.2%x $525.25) (532.57 x 100) [6.2%x ($525.25 Amount of OASDI tax withheld from each employee's paycheck each week: Total tax withheld from the 100 employees' wages: Tax on employer: HI Amount of HI tax withheld from each employee's paycheck each week: Total tax withheld from the 100 employees wages is: Tax on employer: 100)] $7.62 (1.45% x $525.25) $762.00 (57.62 x 100) $761.61 [1.45% x($525.2Sx 1001 Audrey Martin and Beth James are partners in the Country Gift Shop, which employs the individuals listed below. Paychecks are distributed every Friday to all employees. Based on the information given, compute the amounts listed below for a weekdly payroll period. Hint: It is important to ascertain whether a perso wages are considered wages or drawings. If an amount is zero, enter "0" Round your computations to the nearest cent. OASDI Taxable Earnings HI Taxable Earnings Salary OASDI Tax HI Tax Name and Position Zena Vertin, Office Nicole Norge, Sales Bob Mert, Delivery Audrey Martin, Partner Beth James, Partner $ 700 per week 2,980 per month 485 per week 950 per week 950 per week 700 687.69 485 0 0 1,872.69 43.40 42.64 30.07 0 0 116.11 700 687.69 485 0 10.15 9.97 7.03 0 Totals 1,872.69 27.15 105.88 Employer's OASDI Tax 24.76 Employer's Hi Tax
Explanation / Answer
Solution:
This difference can be a typing error. It has to be:
Employer's OASDI Tax: 116.11
Employer's Hi tax = $27.15
