1.) In december 2011, Marvin Simpson worked for Longville Flower and earned $5000, Federal income tax withholding is 15%. The FICA rate is 6.2% and Medicare tax is 1.45%. How much cash will Longville FLower pay the government for Medicare tax because of Homer's December earnings?
A.) $310
B.) $72.50
C.) $145
D.) $620
$5000*1.45%= 72.50 the employer matches the amount
2.) December 2010, Bob Lucus worked for Valentinos and earned $1000. Federal income tax withholding is 10%. The FICA rate is 6.2% and the Medicare tax is 1.45%. How much does Bob December salary will be included in Salary expense on Valentinos income statement for year ended December 31 2010?
A.) $923.50
B.) $1,000
C.) $900
D.) $823.50
3.) December 2010, Bob Lucus worked for Valentinos and earned $1000. Federal income tax withholding is 10%. The FICA rate is 6.2% and the Medicare tax is 1.45%. How much cash will Valentinos pay the government for Medicare tax because of Bob's december earnings?
A.) $62.00
B.) $124.00
C.) $14.50
D.) $29.00