An employee earned $44,200 working for an employer in the current year. The current rate for FICA Social Security is 6.2% payable on earnings up to $128,400 maximum per year and the rate for FICA Medicare 1.45%. The employer's total FICA payroll tax for this employee is: a. $6,762.60. b. $3,381.30. c. $2,740.40. d. $640.90. e. $0
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “An employee earned $44,200 working for an employer in the current year. The current rate for FICA Social Security is 6.2% payable on ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
When social unrest and disorder in a country causes drastic changes in its business environment that adversely affect the profit and other goals of a business enterprise, the business enterprise is said to be facing which of the following type of
Answers (1)
Which of the following could result in higher living costs for the homeowner that the renter doesn t have? a. decreased property value b. down payment c. maintenance d. monthly payment
Answers (1)
Magney, Inc., uses the absorption costing approach to cost-plus pricing described in the text to set prices for its products. Based on budgeted sales of 38,000 units next year, the unit product cost of a particular product is $61.50.
Answers (1)
The Purchasing Policy Guidelines of the Southern Supply Inc. indicate that the company is committed to procuring its goods, products, and services from a diversified pool of vendors, contractors, and service providers.
Answers (1)
The ability to interact with data, see patterns in data, make data-based decisions, and use data to design for desired outcomes is called:
Answers (1)
New Questions in Business
Henrich is a single taxpayer. In 2019, his taxable income is $455,000. What is his income tax and net investment income tax liability in each of the following alternative scenarios?
Answers (1)
When a company buys equipment for $150,000 and pays for one third in cash and the other two thirds is financed by a note payable, which of the following are the effects on the accounting equation? A. Total assets decrease $50,000. B.
Answers (1)
Park Corporation issued 10-year bonds with a face value of $10,000,000. The face rate of interest on the bonds was 8%, and Park agreed to make semiannual payments. The market rate of interest at the time the bonds were issued was 6%.
Answers (1)
How did collis p huntington spend his money business wise?
Answers (1)
Shawn loves to snowboard. he enjoys performing aerial tricks after launching off high jumps. the higher in the air he goes and the farther he travels, the better. which theory best explains shawn's motivation to snowboard?
Answers (1)