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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.
What is the total amount of the employer payroll taxes?
a. 620
b. 750
c. 1,370
d. 2,370
please show your work, thank you
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