Multiple Choice
Compute employee FICA taxes for the year on earnings of $114,000 at 6.2% on a limit of $128,400 for OASDI and 1.45% for Medicare. (Round your answer to the nearest whole dollar.)
A) $7,068
B) $8,721
C) $1,653
D) $87,210
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q32: Given the following payroll items you are
Q33: To compute federal income tax to be
Q34: Companies can choose different pay periods for
Q35: There are two parts to FICA:<br>A) old
Q36: A W-4 form:<br>A) shows total gross wages
Q38: Net pay is equal to gross pay
Q39: The number of allowances claimed by an
Q40: The employees collectively earn a gross wage
Q41: An employee has gross earnings of $2,400
Q42: Compute net earnings on March 3, when