Question

Brian Temple's cumulative earnings are $73,000, and his gross pay for the week is $5,300. If the FICA rates are OASDI 6.2% on a limit of $106,800 and Medicare is 1.45%, what are his FICA-OASDI and FICA-Medicare taxes for the week? Question options: $328.60; $76.85 $3,286; $768.50 $328.60; $0 $0; $76.85

Answer 1

If we multiply his weekly earnings by the correct percentage, the answer is $328.60 for OASDI and $76.85 for Medicare. We arrive at $328.60 by multiplying his weekly earnings of $5300.00 by 6.2%, and we arrive at $76.85 by multiplying his weekly earnings of $5300.00 by 1.45%.

Answer 2

The answer to your questions is "$328.60; $76.85"