The Following Data Applies to the July 15 Payroll for the Woodard

question 111

Short Answer

The following data applies to the July 15 payroll for the Woodard Research Firm (overtime is paid at 1 1/2) Assume:
FICA-OASDI is 6.2% based on a limit of $128,400.
FICA-Medicare is 1.45%.
FUTA is .8% based on a limit of $7,000.
SUTA is 5.6% based on a limit of $7,000.
State income tax is 2.8%.
-Compute the employees' FICA-OASDI.

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Definitions:

Subjective Well-Being

An individual's personal assessment of their happiness and life satisfaction.

Aerobic Exercise

Physical activity that improves cardiovascular fitness by raising the heart rate and increasing the body’s use of oxygen.

Overestimate

To assess a quantity or value too high in relation to its actual value.

Feel-Good,Do-Good Phenomenon

The observation that people are more likely to help others when they are in a good mood themselves.