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Summary: Legally Required Benefits In this chapter, we learned that FICA mandates that employers deduet taxes from employees' pay each pay period to fund the

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Summary: Legally Required Benefits In this chapter, we learned that FICA mandates that employers deduet taxes from employees' pay each pay period to fund the OASDI and Medicare programs. Calculate the tax amounts for the following individuals: Employee Annual Salary Paid Monthly Employer Ana $250,000 Selt Roberto $90,000 Johnson Manufacturing Maria $120,000 Johnson Manufacturing Jim $50,000 Self Questions: 10-11. How much do the employer and employee pay in total for OASDI each monthly pay period for (a) Ana, (b) Roberto, (c) Maria, and (d) Jim? How much do the employer and employee pay for Medicare each monthly pay period for (a) Ana, (b) Roberto, (c) Maria, and (d) Jim? 10-12 How much does the employer pay in total for OASDI each monthly pay period for (a) Ana, (b) Roberto, (c) Maria, and (a) Jim? (Remember that for self-employment, the individual and the employer are one and the same.) 10-13 If the taxable wage base were to increase to $135,000, how much do the employer and employee pay in total for OASDI each monthly pay period for (a) Ana, (b) Roberto, (c) Maria, and (d) Jim

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