Jason's gross pay for the week is $ 1 comma 400. His yearminustominusdate pay is...
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Accounting
Jason's gross pay for the week is $ 1 comma 400. His yearminustominusdate pay is under the limit for OASDI. Assume that the rate for state and federal unemployment compensation taxes is 6% and that Jason's yearminustominusdate pay has not yet exceeded the $ 7 comma 000 cap. What is the total amount of payroll taxes that his employer must record as payroll tax expenses? (Do not round your intermediate calculations. Assume a FICAlong dashOASDI Tax of 6.2% and FICAlong dashMedicare Tax of 1.45%.)
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