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From the following information, calculate the payroll tax expense for Franklin Company for the payroll of April 9: Employee Cumulative Earnings Before Weekly Payroll Gross

From the following information, calculate the payroll tax expense for Franklin Company for the payroll of April 9:

Employee

Cumulative Earnings Before Weekly Payroll

Gross Pay for the Week

O. Barns

$3,500

$900

K. Larry

6,400

700

X. Oakland

7,400

250

The FICA tax rate for OASDI is 6.2% on the first $127,200 earned, and Medicare is 1.45% on all earnings. Federal unemployment tax is 0.6% on the first $7,000 earned by each employee. The SUTA tax rate for Franklin Company is 5.4% on the first $7,000 of employee earnings for state unemployment purposes.

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