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Use the following tax rates for the multiple choice questions: Social security tax 6.0% Medicare tax 1.5% Federal unemployment compensation tax 0.8% State unemployment compensation
Use the following tax rates for the multiple choice questions:
Social security tax 6.0%
Medicare tax 1.5%
Federal unemployment compensation tax 0.8%
State unemployment compensation tax 5.4%
Also assume that:
Employee Jon's gross weekly earnings = $10,000. Federal Income tax withheld = $1,000.
Employer is Conrad Company. Jon is the only employee.
What is the total cost to Conrad Company of employing Jon this week?
a. 12,370
b. 11,370
c. 11,000
d. 10,000
please show your work, thank you
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