Sue earned $56,000 working for an employer in the current year. The current rate for Social Security is 6.2% payable on earnings up to $137,700 maximum per year and the Medicare rate is 1.45% with no cap. The FUTA tax rate of .6% is applied on ALL Earnings.   The SUTA tax rate of 5.4% is applied to the first $6,000 of an employee's pay.   A)The employer's total FICA payroll tax expense for this employee is: *Remember what FICA taxes are! B) Using the above information for Sue:  When the employer remits the total payment to the Medicare Administration, how much will the payment be?

Q: B. F. Goodson employs Eduardo Gonzales at a salary of $48,000 a year. Goodson is subject to employer…

A: Total cost means the sum of all the expenditure. Total cost also means the sum of fixed cost and…

Q: Martin Jackson receives an hourly wage rate of $15, with time and a half for all hours worked in…

A: Formula: Net Amount = Gross Amount - All deductions.

Q: Portia Grant is an employee who is paid monthly. For the month of January of the current year, she…

A: It is the amount of compensation that remains available for distribution to an employee after…

Q: R. L. Ybarra employs John Ince at a salary of $53,000 a year. Ybarra is subject to employer Social…

A: Cost of employment includes all expenses paid by employer. Payroll taxes also part of employment…

Q: An employee earned $37,000 during the year working for an employer when the maximum limit for Social…

A: Formula to calculate  employee's annual FICA taxes amount:Employee's annual FICA taxes = Employee…

Q: Trey Morgan is an employee who is paid monthly. For the month of January of the current year, he…

A: Formula: Net pay = Gross salary - Social security tax - FICA tax - Tax withheld

Q: cial security is 6.2% of the first $128,400 of employee earnings each calendar year and the FICA tax…

A: Higher income earners are taxed at a higher rate under the federal income tax, which is based on a…

Q: For self-employed persons, social security tax is 12.4% of wages up to $128,400, and Medicare tax is…

A: Social security tax refers to the amount that is paid to the general government that is entitled…

Q: Employee DD earned $43,300 working for an employer in the current year. The current rate for Social…

A: Please see the next step for the solution

Q: An employee earned $45,400 during the year working for an employer when the maximum limit for Social…

A: The FICA tax amount is the sum of 6.2% social security tax and 1.45% Medicare tax on the employee…

Q: Carol Blane’s cumulative yearly earnings for the year are $29,000, counting her current pay period…

A: The payroll tax expense is the tax expenses of the employer and employee on wages. benefits, perks,…

Q: The current FUTA tax rate is 0.6%, and the SUTA tax rate is 5.4%. Both taxes are applied to the…

A: Tax refers to the amount charged by the government from the individuals and organizations on the…

Q: An employee earned $4,600 in February working for an employer. The Federal Insurance Contributions…

A: It is the amount of gross earnings of an employee reduced by the income tax to be withheld on the…

Q: An employee earned $43,300 working for an employer in the current year. The current rate for Federal…

A: Payroll tax refers to the tax that is subtracted from, assessed against, or imposed on an employer's…

Q: An employee earns $40 per hour and 1.5 times that rate for all hours in excess of 40 hours per week.…

A: Gross pay is the payment made to the employees without any tax and net pay is the payment made to…

Q: R.D. Kagen employs Audrey Lopez at a salary of $32,900 a year. Kagen is subject to employer Social…

A: Salary: Its a compensation paid to the employees for providing their services to the company. It can…

Q: An employee earned $50,000 during the year. FICA tax for Social Security is 6.2% and FICA tax for…

A: FICA tax is contributed both the employees and the employer with 6.2% of social security tax till…

Q: An employee earned $62,500 during the year working for an employer. The FICA tax rate for Social…

A: Step 1 The unemployment taxes (FUTA) of $42 is obtained by multiplying the earnings of $7,000 with…

Q: Multiple Choice $2,789.20. $6,489.70. $7160.40. $3,580.20. $670.70.

A: FICA is a U.S. federal payroll tax. The acronym "FICA" stands for the Federal Insurance…

Q: first week’s deductions for Social Security and Medicare? Will any of Pat’s wages be exempt from

A: A tax deduction is defined as an item that would be deducted from the taxable income so that the…

Q: An employee earns $5,500 per month working for an employer. The FICA tax rate for Social Security is…

A: Calculation of Net pay for the month of January is as follows:

Q: Portia Grant is an employee who is paid monthly. For the month of January of the current year, she…

A: Answer : $6,846.92

Q: Trey Morgan is an employee who is paid monthly. For the month of January of the current year, he…

A: Total amount of taxes includes federal income tax, Federal insurance contributions act tax- social…

Q: The current FUTA tax rate is 0.6%, and the SUTA tax rate is 5.4%. Both taxes are applied to the…

A: Formula to calculate total unemployment taxes (the empoyer must pay on this employee's wages):Total…

Q: Portia Grant is an employee who is paid monthly. For the month of January of the current year, she…

A: Payroll accountingThe accounting process followed for the human resources payments regarding the…

Q: Her net pay for the month is: (Round your intermediate calculations to two decimal places.) Multiple…

A: Net pay represents an employee's take-home earnings after various deductions, including taxes and…

Q: Martin Jackson receives an hourly wage rate of $15, with time and a half for all hours worked in…

A: Lets understand the basics. Net amount paid is a gross pay less taxes paid. Gross pay = (Norma hour…

Q: An employee earns $5,750 per month working for an employer. The FICA tax rate for Social Security is…

A: Wages: Wages are the earnings of the employees for their work to the company they serve. These are…

Q: An employee earned $44,600 during the year working for an employer when the maximum limit for Social…

A: Formula to calculate  employee's annual FICA taxes amount: Employee's annual FICA taxes = Employee…

Q: An employee earns $16 per hour and 1.5 times that rate for all hours in excess of 40 hours per week.…

A: The objective of the question is to calculate the gross pay and net pay for an employee who worked…

Q: An employee earned $37,000 during the year working for an employer when the maximum limit for Social…

A: FICA tax: It can be defined as the federal payroll tax applied in the U.S.