Triston Vale is paid on a monthly basis. For the month of January of the current year, he earned a total of $5,210. FICA tax for Social Security is 6.2% on the first $118,500 of earnings each calendar year and the FICA tax for Medicare is 1.45% of all earnings. The FUTA tax rate is 0.6%, and the SUTA tax rate is 5.4%. Both unemployment taxes are applied to the first $7,000 of an employee's pay. The amount of Federal Income Tax withheld from his earnings was $885.70. What is the amount of the employer's payroll taxes expenses for this employee?
A) $1,284.27
B) $312.60
C) $398.57
D) $711.17
E) $1,596.87
D) $711.17
Explanation: Payroll Taxes = FICA-SS Tax + FICA-Medicare Tax + FUTA Tax + SUTA Tax
Payroll Taxes = $323.021 + $75.552 + $31.263 + $281.344 = $711.17
1FICA—Social Security $5,210 * 0.062= $323.02
2FICA—Medicare $5,210 * 0.0145 = $75.55
3FUTA $5,210 * 0.006 = $31.26
4SUTA $5,210 * 0.054 = $281.34
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