Question
Assume that Josh earns $48 per hour and he worked 40 hours this week. The Social Security rate is 6.2% and the Medicare rate is
Assume that Josh earns $48 per hour and he worked 40 hours this week. The Social Security rate is 6.2% and the Medicare rate is 1.45%, and his entire earnings are subject to both FICA taxes. Also, $240 in income taxes and $80 of union dues are withheld. Joshs net take-home pay should be
a. $1,453.12
b. $1,600.00
c. $1,280.00
d. $1,477.60
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Financial Accounting International Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel
6th Edition
978-0470623275
