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:

Human Cultural Survival Kit

A metaphor for the set of tools, including knowledge, beliefs, and practices, that humans use to live successfully in their environments.

Capabilities

The potential skills, abilities, and resources an individual or entity can mobilize to achieve specific goals.

Sociological Perspective

is the viewpoint that social contexts and structures profoundly influence individuals' behaviors, attitudes, and opportunities.

Culture

The shared beliefs, values, norms, practices, languages, and symbols of a society that shape its members' behaviors and perceptions.