Question

Question 21

Laura earns $7,100 every two weeks. Using 6.2% for the first $132,900 for OASDI and using 1.45% for HI, answer the following questions:

How much should be deducted for the 9th pay-period for OASDI?

Question 21 options:

	$102.95
	$220.1
	$440.2
	$543.15
	$880.40

Question 22

Referring to Laura again, how much should be withheld from her 19th payroll check for OASDI?5100

Question 22 options:

	$73.95
	$102.95
	$124
	$316.20
	$440.20

Question 23

Still referring to Laura, how much should be withheld from her 24th payroll check for OASDI?

Question 23 options:

	$0
	$73.95
	$102.95
	$124
	$316.20

Question 24

Again, referring to Laura, how much should be withheld from her 9th payroll check for HI?

Question 24 options:

	$0
	$73.95
	$102.95
	$124
	$316.20

Question 25

Back to Laura again! How much should be withheld from her 19th payroll check for HI?

Question 25 options:

	$0
	$73.95
	$102.95
	$124
	$316.20

Question 26

Referring to poor Laura one last time (I promise!), how much should be withheld from her 24th payroll check for HI?

Question 26 options:

	$0
	$73.95
	$102.95
	$124
	$316.20

Answer 1

21) Correct option is C"-440.2

Total accumulated Gross pay for 9period = 7100*9= 63900 which is below OASDI limit.

OASDI to be deducted =7100 *6.2%= 440.2

22)correct option is "D"-316.2

Total Payroll over 19 period = 7100*19=134900 Which is above limit .Thus taxability of payroll of 19 period = 7100 - 2000 = 5100                [134900-132900]

OASDI to be deducted =5100 *6.2%= 316.2

23)CORRECT OPTION is "A"-0

Since the whole of the OASDI limit becomes already taxable by 19 pay period ,none of the pay is taxable .

24)correct option is "C"-102.95

Payroll subject to HI - 7100*1.45%= 102.95