A company's employees had the following earnings records at the close of the current payroll period: Employees Earning through Prior Pay PeriodEarning this Pay PeriodF. Argent....$11,300$3,900A. Garza.......6,1002,500L. Hong..........9,5003,100R. Levinson...4,8001,400J. Young.......10,0003,000The company's payroll taxes expense on each employee's earnings includes: FICA Social Security taxes of 6.2% on the first $127,200 of earnings plus 1.45% FICA Medicare on all wages; 0.6% federal unemployment taxes on the first $7,000; and 2.5% state unemployment taxes on the first $7,000. Compute the employer's total payroll taxes expense for the current pay period.
What will be an ideal response?
| FICA-Social Security | $13,900 * .062 = | $861.80 |
| FICA-Medicare | $13,900 * .0145 = | 201.55 |
| FUTA | $2,3001 * .006 = | 13.80 |
| SUTA | $2,3001 * .025 = | 57.50 |
| Total employer payroll taxes | ? | $1,134.65 |
1 Employee pay subject to unemployment taxes:
Argent $0 + Garza $900 + Hong $0 + Levinson $1,400 + Young $0 = $2,300
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