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Employee earnings records for Bramble Company reveal the following gross earnings for four employees through the pay period of December 15 Employee earnings records for
Employee earnings records for Bramble Company reveal the following gross earnings for four employees through the pay period of December 15
Employee earnings records for Bramble Company reveal the following gross earnings for four employees through the pay period of December 15. For the pay period ending December 31 , each employee's gross earnings is $4,500. The 7.65% FICA tax rate consists of the Social Security tax rate of 6.20% on salaries and wages up to $128,400 and the Medicare tax rate of 1.45% on all salaries and wages. Compute the FICA withholdings that should be made for each employee for the December 31 pay period. (Round answers to 2 decimal places, e.g. 52.75.) J. Seligman \$ L. Marshall \$ R. Eby $Step by Step Solution
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