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Short Problem #2 A company's employees had the following earnings records at the close of the current payroll period: Employees Earnings Through Prior Pay Period
Short Problem #2 A company's employees had the following earnings records at the close of the current payroll period: Employees Earnings Through Prior Pay Period Earnings this Pay Period D. Adams $11,300 $3,900 J. Hess 6,100 2,500 R. Lui 9,500 3,100 T. Morales 4,800 1,400 L. Vang 10,000 3,000 The company's payroll taxes expense on each employee's earnings includes: FICA Social Security taxes of 6.2% on the first $76,200 plus 1.45% FICA Medicare on all wages; 0.8% federal unemployment taxes on the first $7,000; and 2.5% state unemployment taxes on the first $7,000. Compute the employer's total payroll taxes expense for the current pay period. Page 3 / 3 +
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