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 |
Business
You might also like to view...
In the expenditure cycle, general ledger does not
a. post the journal voucher from the accounts payable department b. post the account summary from inventory control c. post the journal voucher from the purchasing department d. reconcile the inventory control account with the inventory subsidiary summary
Business
Which of the following is a team where there is typically no designated leader?
A. Work group B. Pseudoteam C. Work team D. Leaderless team
Business
Which of the following is NOT part of the marketing mix?
A. product B. policy C. price D. place E. promotion
Business
Transport costs per pound for less-than-full carloads are less than for full loads.
Answer the following statement true (T) or false (F)
Business