Prior to the last weekly payroll period of the calendar year, the cumulative ear

Question

Prior to the last weekly payroll period of the calendar year, the cumulative earnings of employees A and B are $106,150 and $91,000, respectively. Their earnings for the last completed payroll period of the year are $850 each. The amount of earnings subject to social security tax at 6% is $106,800. All earnings are subject to Medicare tax of 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 on the two salary amounts of $850 each?
a. $76.50
b. $127.50
c. $63.75
d. $115.50

Explanation / Answer

c. $63.75

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