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

question 80

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 employer's payroll taxes.

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Definitions:

Political Identification

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Liberals

Individuals or groups advocating for policies that emphasize individual rights, equality, and support for social programs aimed at reducing inequality and promoting social justice.

Conservatives

A political and social philosophy that emphasizes retaining traditional social institutions and values.

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