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    Financial Accounting Information for Decisions
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    Exam 9: Reporting and Analyzing Current Liabilities
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    The Rate for FICA Social Security Is 6
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The Rate for FICA Social Security Is 6

Question 181

Question 181

Essay

The rate for FICA Social Security is 6.2% and the rate for FICA Medicare is 1.45%.Calculate the total amount of FICA withholding for an employee whose pay is $2,400 and is entirely subject to these FICA taxes.

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