Taurus's Gross Pay for the Week Is $980

question 145

Multiple Choice

Taurus's gross pay for the week is $980. His yearly pay is under the limit for OASDI. Assume that the rate for state and federal unemployment compensation taxes is 6.2%, and that Taurus's pay year-to-date has not yet exceeded the $7,000 cap. His yearly pay is under the limit for OASDI. How much is the total amount of payroll taxes that his employer must record as payroll tax expenses? (Do not round your intermediate calculations. Assume a FICA-OASDI Tax of 6.2% and FICA-Medicare Tax of 1.45%.)

• A)$55.37
• B)$60.76
• C)$135.73
• D)$120.56

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Definitions:

Utilitarianism

A theory in ethics that prescribes actions that maximize happiness and well-being for the majority of a population.

Responsibility

The duty or obligation to perform or complete a task, often with the implication of accountability for the outcome.

Justice

The concept of fair and equal treatment for all, as well as the administration of law.

Ethical Dilemma

A situation where a person must choose between two or more conflicting ethical principles or values.