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The chief executive officer ears $10,150 per month. As of May 31, her gross pay was $50,750. The tax rate for Social Security is 6.2%

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The chief executive officer ears $10,150 per month. As of May 31, her gross pay was $50,750. The tax rate for Social Security is 6.2% of the first $128.400 earned each calendar year and the FICA tax rate for Medicare is 145% of all earnings. The current FUTA tax rate is 0.6%, and the 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 FICA-Social Security withheld from this employee for the month of June? Multiple Choice $629.30 $294.35 $1,258.60 $272.02 $745721

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