(Answered) Suppose jim worked 65 hours during this payroll period and

Accounting

Suppose Jim worked 65 hours during this payroll period and is paid $12.00 per hour. Assume FICA is 6.2%, Medicare is 1.45% and withholding tax is 10%.

Calculate Jim's employer's total payroll tax liability for the period.

*Jim's net paycheck = $642.33

*Jim's employer's payroll tax expense = $59.67

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