C Secure https:/ /newconnect.mh /connect htm Exam 3 (Chapters 6,7,8)6 Help Save&

Question

C Secure https:/ /newconnect.mh /connect htm Exam 3 (Chapters 6,7,8)6 Help Save& Exit Subm MC Qu. 132 The chief executive officer earns... The chief executive officer carms $21,000 per month, As of May 31, her gross pay was $105,000. The tax rate for Social Security is 62% ofthe frst St18,500 earned each calendar year and the FICA ti rate fr Mede-st451 of at eening, rhe arr sa tax rate is 06%, and the SUTA tax rate is SAS Both unemployment taxes are applied to the hrst SZOOO of an employees pay What is the amount of FICA-Social Security withheld from this employee for the month of June? 3.33 Mutiple Choice 304 50 $7.34700 83700 2S or 30[ ?Prex Next 0

Explanation / Answer

Social Security tax withheld for June = (118500-105000)*6.2%= $837 Option 3 is correct

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