The companys payroll taxes expense on each employees

Reference no: EM13598597

A company's employees had the following earnings records at the close of the current payroll period:

Employees Earnings through Prior Pay Period Earnings this pay period

D. Adams 11,300 3,900
J. Hess 6,100 2,500
R. Lui 9,500 3,100
T. Morales 4,800 1,400
L. Vang 10,000 3,000

The company's payroll taxes expense on each employee's earnings includes: FICA Social Security taxes of 6.2% on the first $84,900 plus 1.45% FICA Medicare on all wages; 0.8% federal unemployment taxes on the first $7,000; and 2.5% state unemployment taxes on the first $7,000. Compute the employer's total payroll taxes expense for the current pay period.

Reference no: EM13598597

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