Compute the total cost to spring of employing

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Question - Total Cost of Employee - G. E. Spring employs Trent Pelligrini at a salary of $47,100 a year. Spring is subject to employer Social Security taxes at a rate of 6.2% and Medicare taxes at a rate of 1.45% on Pelligrini's salary. In addition, Spring must pay SUTA tax at a rate of 5.1% and FUTA tax at a rate of 0.2% on the first $7,000 of Pelligrini's salary. Compute the total cost to Spring of employing Pelligrini for the year. If required, round your answer to the nearest cent.

Reference no: EM133091898

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