LO 5-3 Scout is the vice president for marketing at Sun Field Industries, earns $175,000 annually, and
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LO 5-3 Scout is the vice president for marketing at Sun Field Industries, earns
$175,000 annually, and is paid on a semimonthly basis. As of November 15, Scout has year-to-date earnings of $153,125. The Social Security wage base is $160,200. What is the maximum amount of taxable earnings that may be subject to Social Security tax for the November 30 pay period?
a. $5,833.27
b. $6,235.33
c. $7,291.67
d. $7,074.93
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Related Book For
Payroll Accounting 2024
ISBN: 9781266832352
10th International Edition
Authors: Jeanette Landin, Paulette Schirmer
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