help please Dave Brown's cumulative earnings are $90,000, and his gross pay for the week is $6,400. If the FICA rates are: Social Security 6.2% on a limit of $142,800 and Medicare is 1.45%, what are his FICASocial Security and FICA Medicare taxes for the week? (Round your answers to the nearest whole dollar.)OA. $397; $0OB. $0; $93OC. $3,968; $928OD. $397; $93

The objective of the question is to calculate Dave Brown's FICA Social Security and FICA Medicare…

Answered: Dave Brown's cumulative earnings are…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Dave Brown's cumulative earnings are $127,200 , and his gross pay for the week is $5,300 . If the FICA rates are: Social Security 6.2% and Medicare is 1.45% , what are his FICA-OASDI and FICA-Medicare taxes for the week? Assume the Social Security threshhold is $128,400. it is multilple choices question. the choices are: A)$74.40;$17.40 B)$0;$76.85 C)74.40;76.85 D)$328.60;76.85
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Baker Green's weekly gross earnings for the week ending December 7 were $1,200, and her federal income tax withholding was $144. Assuming the social security rate is 6% and Medicare is 1.5%, and all earnings are subject to FICA taxes, what is Green's net pay? Round your answer to the nearest whole dollar. $ ?
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