Use the following information to answer the following questions. Jensen Company has the following information for the pay period of January 15 - 31, 20xx. Gross payroll $10,000 Federal income tax withheld $1,500 Social security rate 6% Federal unemployment tax rate .8% Medicare rate 1.5% State unemployment tax rate 5.4% Assuming that all wages are subject to federal and state unemployment taxes,
the Payroll Taxes Expense would be recorded as:
A) $1,370
B) $750
C) $620
D) $2,870
A
Business
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