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texanqt63
Jul 3, 2008, 09:53 AM
Employee earnings records for Medenciy Company reveal the following gross earnings for four employees through the pay period of December 15.
C.Ogle $84,420 D.Delgado $87,840
L.Jeter $88,580 T.Spivey $90,000


For the pay period ending December 31, each employee’s gross earnings is $3,840.The FICA tax rate is 8% on gross earnings of $90,000.

This is my question. Im not really sure how to go about answering it. i dont know if i should add the 3840 to each of the employees earnings and then take the 8% of the earnings that are over 90,000.

JudyKayTee
Jul 3, 2008, 05:13 PM
I find it odd that the same question, same employee names, is posted twice - by 2 different people -

Could this be homework?

morgaine300
Jul 5, 2008, 11:40 PM
See answer for same question here:
http://www.askmehelpdesk.com/accounting/calculating-fica-withholdings-233496.html