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29 April, 02:58

1. What is the amount of social security tax for a gross pay amount of $944?

A. $15.23

B. $58.53

C. $152.26

D. $585.26

2. What is the amount of Medicare tax for a gross pay amount of $944?

A. $13.69

B. $65.10

C. $136.88

D. $145.00

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Answers (1)
  1. 29 April, 06:38
    0
    1. The social security pay for year 2017 is 6.2% each for the employee and the company, making it 12.4% in total. To solve, we simply multiply the decimal equivalent of 12.4% to $944.

    (0.124) ($944) = $117.0566

    The employee should pay only 6.2%. So, the answer is letter B.

    2. The Medicare tax is 1.45%

    (0.0145) ($944) = $13.688

    The answer is letter A.
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