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Jack's gross pay for the week is $1,200. His yeartodate pay is under the limit for OASDI. Assume that the rate for state and federal
Jack's gross pay for the week is
$1,200.
His
yeartodate
pay is under the limit for OASDI. Assume that the rate for state and federal unemployment compensation taxes is
6%
and that Jack's
yeartodate
pay has previously exceeded the
$7,000
cap. What is the total amount of payroll taxes that Jack's employer must record as payroll tax expenses? (Do not round your intermediate calculations. Assume a
FICAOASDI
Tax of
6.2%
and
FICAMedicare
Tax of
1.45%.)
Question content area bottom
Part 1
A.$ 74.40
B.$ 91.80
C.$ 50.40
D.$ 17.40
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