Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. mary earned $49,258.75 for the past calendar year.

Mary earned $49,258.75 for the past calendar year. How much did she pay for the...

60.1K

Verified Solution

Question

Accounting

Mary earned $49,258.75 for the past calendar year. How much did she pay for the year in social security and Medicare taxes? (Social Security Tax is 6.2% of gross wages up to $128,400. Medicare Tax is 1.45% of all gross wages.)

a. $3,462.29

b. $3,615.29

c. $3,768.29

d. $4,150.79

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Economics
1.2K views

Q1: Demand in a market is represented by Q = 500 – 50P where P is...

Biology
1.2K views

1 The best description of lysogeny by temperate bacteriophage is A mobile segments of DNA...

Physics
1.2K views

The velocity distribution for flow over a plate is given by u 0 5y y2...

Physics
1.2K views

The escape velocity for a planet is ve A particle starts from rest at a...

Accounting
1.2K views

Required information [The following information applies to the questions displayed below.) Case A....

Accounting
1.2K views

Parker tooling ltd is considering lengthening its credit period from 30 to 60 days. The...

Accounting
1.2K views

Q006: Which of the following accounts would be closed at the end of an accounting...

Accounting
1.2K views

The Company uses the allowance method to account for uncollectibles. On January 31, it wrote...

Accounting
1.2K views

Yuvwell Corporation's direct labor budget for next year contained the following information: The company uses...

Accounting
1.2K views

GAAP requires the use of an allowance for doubtful accounts to provide an estimate of...

Accounting
1.2K views

iSqFt - The industry... Employee Portal elkansive Problem PRRO O2 OI PART. 1...

Finance
1.2K views

Suppose the Swiss government imposes an interest rate ceiling on Swiss bank deposits. What is...