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    College Accounting Study Set 1
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    Exam 7: Calculating Pay and Payroll Taxes: the Beginning of the Payroll Process
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    Compute Employee FICA Taxes for the Year on Earnings of $108,000
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Compute Employee FICA Taxes for the Year on Earnings of $108,000

Question 42

Question 42

Multiple Choice

Compute employee FICA taxes for the year on earnings of $108,000 at 6.2% on a limit of $117,000 for OASDI and 1.45% for Medicare.


A) $8,187.60
B) $8,262.00
C) $8,170.20
D) $6,621.60

Correct Answer:

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