An Employee Earned $155,000 Working for an Employer in the Current

question 7

Multiple Choice

An employee earned $155,000 working for an employer in the current year.The current rate for FICA Social Security is 6.2% payable on earnings up to $127,200 maximum per year and the rate for FICA Medicare 1.45% of all earnings.The employee's total FICA payroll tax is:

• A)$11,857.50.
• B)$9,730.80.
• C)$10,133.90.
• D)$2,247.50.
• E)$0,since the FICA tax is paid entirely by the employer.

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Definitions:

Corrosive

Corrosive substances are those that can destroy or irreversibly damage another substance by chemical reaction upon contact.

Teratogen

An agent or factor that can cause malformation of an embryo or fetus, potentially leading to birth defects.

Birth Defects

Conditions that are present at birth, resulting in structural or functional anomalies that cause physical or mental disabilities; they can be caused by genetic factors, environmental exposure, or unknown reasons.

Poison

A substance that is capable of causing illness or death to living organisms when introduced or absorbed.