120,000 was paid to 16 salesmen in override commission, how much will each get. How much will go towrd social security tax & how much to medicare
In that case: (a) the average amount paid to each salesperson = \$120,000/16 = \$7500; (b) Social Security Tax = 6.2% * 7500 = \$465; (c) Medicare = 1.45% * 7500 = \$108.75
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if a company payes out \$120,000 and divide it by 16 salesmen, when medicare is calculated do we use the amount of 120,000
Weegy: No, the average amount paid to each salesperson = \$120,000/16 = \$7500; You will get it from \$7500. (More)
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