Calculate the total amount of FICA withholding for an employee whose pay is $2,400 for the first pay period of the year. The tax rate for FICA-Social Security is 6.2% and the tax rate for FICA-Medicare is 1.45%.
What will be an ideal response?
| ? | ? |
| Social Security taxes = | $148.80 |
| Medicare tax = | 34.80 |
| ? | $183.60 |
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