A. If the two employees each worked 250 days, what is Silver Cos total payroll cost? (Salary, payroll taxes, and fringe benefits (Assume that each earns 315 per day)

The two employees of Silver Co. receive various fringe benefits. Silver Co. provides vacation at the rate of $315 per day. Each employee earns one day of vacation per month worked. In addition, Silver Co. pays a total amount of $650 per month in medical insurance premiums. Silver also contributes a total amount of $400 per month into an employee retirement plan. The federal unemployment tax rate is 6%, while the state unemployment tax rate is 4%. Unemployment taxes apply to the first $7,000 of earnings per employee. Assume a Social Security tax rate of 6% and a Medicare tax rate of 1.5%