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

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The following data applies to the July 15 payroll for the Woodard Research Firm (overtime is paid at 1 1/2) 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 net pay for the employees' paychecks. 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 net pay for the employees' paychecks.


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