Question
Davis and Thompson have earnings of $909 each. The social security tax rate is 6.0%, and the Medicare tax rate is 1.5%. Assuming that the
Davis and Thompson have earnings of $909 each. The social security tax rate is 6.0%, and the Medicare tax rate is 1.5%. Assuming that the payroll will be paid on December 29, what will be the employer's total FICA tax for this payroll period?
a. $98.00
b. $27.27
c. $136.35
d. $49.00
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Introduction To Management Accounting Chapters 1 To 14
Authors: Charles T Horngren, Gary L Sundem, William O Stratton, Dave Burgstahler, Jeff Schatzberg
15th Edition
0136102778, 9780136102779
