Merchant Company purchased land for a building site. The costs associated with the property were: $180,0001,3002,50015,500 What is the total recorded cost of the land? a. $183,300 b. $195,500 c. $180,000 d. $199,300 e. $196,800 The chief executive officer earns $10,000 per month. As of May 31 , her gross pay was $50,000. The Federal Insurance Contributions Act (FICA) tax rate for Social Security is 6.2% of the first $137,700 earned each calendar year and the Federal Insurance Contributions Act (FICA) tax rate for Medicare is 1.45% of all earnings. The current Federal Unemployment Taxes (FUTA) tax rate is 0.6%, and the State Unemployment Taxes (SUTA) tax rate is 5.4%. Both unemployment taxes are applied to the first $7,000 of an employee's pay. What is the amount of Federal Insurance Contributions Act (FICA)-Social Security withheld from this employee for the month of June? a. $290 b. $7,347 c. $268 d. $1,240 e. $620 An employee earned $4,600 in February working for an employer. Cumulative earnings of the previous pay periods are $4,800. The Federal Insurance Contributions Act (FICA) tax rate for Social Security is 6.2% of the first $137,700 of earnings each calendar year and the Federal Insurance Contributions Act (FICA) tax rate for Medicare is 1.45\% of all earnings. The current Federal Unemployment Taxes (FUTA) tax rate is 0.6%, and the State Unemployment Taxes (SUTA) tax rate is 5.4%. Both unemployment taxes are applied to the first $7,000 of an employee's pay. What is the amount the employer should record as payroll taxes expense for the month of February? a. $110.00 b. $483.90 c. $230.00 d. $351.90 e. $581.90