Renee is a salaried exempt employee who earns an annual salary of $64,200,which is paid semimonthly.She is married with four withholding allowances.What is her total FICA tax liability per pay period? (Do not round intermediate calculations.Round your final answer to 2 decimal places. )
A)$165.85
B)$38.79
C)$204.64
D)$409.28

Question

Quizplus · Accepted Answer

FICA tax includes Social Security (6.2%) and Medicare (1.45%). Renee's semimonthly salary is $64,200 / 24 = $2,675. Social Security tax is $2,675 * 6.2% = $165.85, and Medicare tax is $2,675 * 1.45% = $38.79. Total FICA tax per pay period is $165.85 + $38.79 = $204.64.

Renee Is a Salaried Exempt Employee Who Earns an Annual