Question 1

Question 2

An employee earned $46,800 during the year working for an employer when the maximum limit for Social Security was $137,700. The Federal Insurance Contributions Act (FICA) tax rate for Social Security is 6.2% and the Federal Insurance Contributions Act (FICA) tax rate for Medicare is 1.45\%. The employee's annual Federal Insurance Contributions Act (FICA) taxes amount is: Multiple Choice $6,489.70. $7,160.40. $670.70. $3,580.20 $2,789.20 TB MC Qu. 09-89 (Algo) Trey Morgan is an employee who... Trey Morgan is an employee who is paid monthly. For the month of January of the current year, he earned a total of $6,240. The Federal Insurance Contributions Act (FICA) tax for social security is 6.2% of the first $137.700 earned each calendar year, and the Federal Insurance Contributions Act (FICA) tax rate for Medicare is 1.45% of all earnings for both the employee and the employer. The amount of federal income tax withheld from hing $850.70. What is the total amount of taxes withheld from the Trey's earnings? Multiple Choice $1,805.12 $941.15 $1,237.46 $1,328.06 $850.70