Examlex

Solved

Gary Marks Is Paid on a Monthly Basis

question 38

Multiple Choice

Gary Marks is paid on a monthly basis.For the month of January of the current year,he earned a total of $8,288.FICA tax for Social Security is 6.2% and the FICA tax for Medicare is 1.45%.The FUTA tax rate is 0.6%,and the SUTA tax rate is 5.4%.Both unemployment taxes are applied to the first $7,000 of an employee's pay.The amount of Federal Income Tax withheld from his earnings was $1,375.17.What is the amount of the employer's payroll taxes expenses for this employee?


Definitions:

Heterogeneous Catalysts

Catalysts that exist in a different phase than the reactants in a chemical reaction, facilitating the reaction without being consumed.

Chromatographically

Pertaining to chromatography, a method for separating components of a mixture based on differences in their movement through a stationary medium.

Filtration

A process used to separate solids from liquids or gases using a filter medium that allows the fluid to pass but not the solid.

Zero-Order Reaction

A chemical reaction whose rate is independent of the concentration of the reactant(s).

Related Questions