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....... 6,100 2,500L. Hong.......... 9,500 3,100R. Levinson... 4,800 1,400J. Young....... 10,000 3,000The company's payroll taxes expense on each employee's earnings includes: FICA Social Security taxes of 6.2% on the first $128,400 of earnings plus 1.45% FICA Medicare on all wages; 0.6% federal unemployment taxes on the first $7,000; and 5.4% 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 * .054 = | 124.20 |
| Total employer payroll taxes | ? | $1,201.35 |
1Employee pay subject to unemployment taxes:
Argent $0 + Garza $900 + Hong $0 + Levinson $1,400 + Young $0 = $2,300
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