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What is the amount of the employer payroll tax expense

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Reference no: EM132802546

Question - Advanced Computer Repair incurred salaries expense of $84,000 for 2024. The payroll tax expense includes employer FICA? tax, state unemployment tax, and federal unemployment tax. Year-to-date earnings do not exceed $132,900. Of the total? salaries, $11,000 is subject to unemployment tax.?Currently, state unemployment tax is? 5.4% and federal unemployment tax is? 0.6%. Also, the company provides the following benefits for? employees: health insurance? (cost to the? company,$2,500?), life insurance? (cost to the company,$890?), and retirement benefits? (cost to the? company, 5?% of salaries? expense). What is the amount of the employer payroll tax expense for the? year?

a. $7,086

b. $14,676

c. $6,700

d. $7,590

Reference no: EM132802546

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