Question 7 (of 10) | seve & Ent Larren Buftett is concerned after receiving inco

Question

Question 7 (of 10) | seve & Ent Larren Buftett is concerned after receiving incorrect L her weekly paycheck. She believes that her deductions for Social Security, Medicare, and Federal income Tax withholding (FIT) may be is paid a salary of $4,300 weekly She is married claims 2 deductions, and prior to this payroll check, has total earnings of $115,300 what are the correct deductions for Social Security, Medicare. and FT? Assume a rate ot 62% on S 118 500 for Social Security and 1 45% for Medicare. nearest cent.) Use la e and able 2) Round your answers to the FIT

Explanation / Answer

Social Security = (118,500 - 115,300) x 6.2% = 198.40

Medicate = 4,300 x 1.45% = 62.35

Social Security 198.40 Medicare 62.35

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