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Davis and Thompson have earnings of $814 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
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Davis and Thompson have earnings of $814 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

User Bouncyball
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1 Answer

5 votes

Answer:

$122.10

Step-by-step explanation:

814 × 6% = 48.84

814 × 1.5% = 12.21

48.84 + 48.84 = 97.68

12.21 + 12.21 = 24.42

97.68 + 4.42 = 122.10

User Hamid Sarani
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5.2k points
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