Question
ABC is paying its employees for the work they have done during September, 2022. Each employee is paid $5,000 per month and ABC has eight
ABC is paying its employees for the work they have done during September, 2022. Each employee is paid $5,000 per month and ABC has eight (8) employees. The federal income tax being withheld is 20% for each employee, the state income tax being withheld is 5%, the Social Security being withheld is 6%.
Given this information, what is the total amount that ABC will pay to government entities associated with this payroll (federal and state income tax and social security)?
Please enter all amounts as a positive number with no dollar signs or commas. For example, if the answer is $2,100, enter 2100
THE ANSWER IS NOT :
12,400
14,880
27,600 or
14,800
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