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Dave Brown's cumulative earnings are $90,000, and his gross pay for the week is $6,400. If the FICA rates are: Social Security 6.2% on a limit of $142,800 and Medicare is 1.45%, what are his FICA Social Security and FICA Medicare taxes for the week? (Round your answers to the nearest whole dollar.) OA. $397; $0 OB. $0; $93 OC. $3,968; $928 OD. $397; $93

Dave Brown's cumulative earnings are $90,000, and his gross pay for the week is $6,400. If the FICA rates are: Social Security 6.2% on a limit of $142,800 and Medicare is 1.45%, what are his FICA Social Security and FICA Medicare taxes for the week? (Round your answers to the nearest whole dollar.) OA. $397; $0 OB. $0; $93 OC. $3,968; $928 OD. $397; $93

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Dave Brown's cumulative earnings are $90,000, and his gross pay for the week is $6,400. If the FICA rates are: Social Security 6.2% on a limit of $142,800 and Medicare is 1.45%, what are his FICA Social Security and FICA Medicare taxes for the week? (Round your answers to the nearest whole dollar.) OA. $397; $0 OB. $0; $93 OC. $3,968; $928 OD. $397; $93
Transcribed Image Text:Dave Brown's cumulative earnings are $90,000, and his gross pay for the week is $6,400. If the FICA rates are: Social Security 6.2% on a limit of $142,800 and Medicare is 1.45%, what are his FICA Social Security and FICA Medicare taxes for the week? (Round your answers to the nearest whole dollar.) OA. $397; $0 OB. $0; $93 OC. $3,968; $928 OD. $397; $93
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