17. Fandango Furniture Manufacturing, Inc. has 40 employees on the assembly line, each with gross earnings of $325 per week. What are the total combined social security and Medicare taxes that should be withheld from the employees’ paychecks each week? (Points : 2)

Answer 1

http://ssa-custhelp.ssa.gov/app/answers/detail/a_id/240/~/social-security-and-medicare-tax-rates%3B-maximum-taxable-earnings

Answer 2

40 employees each gross $325 p/w. What are the total combined social security & medicare taxes that should be withheld from employees paychecks each week?

Answer 3

paychecks each week will be as follows : $325 x 40 = $13,000 (gross earnings /week) $13,000 x 0.062 = $806 (total combined social security) $13,000 x 0.0145 = $188.50 (total medicare taxes)
social security : 806
medicare: 188.50

Answer 4

What are the total social security and Medicare taxes that should be withheld from the employees' paychecks each week?
Social security: $
Medicare: $