During the First Week of January, Sam Jones Earned $200

question 60

Multiple Choice

During the first week of January, Sam Jones earned $200. Assume that FICA taxes are 7.65 percent of wages up to $50,000, state unemployment tax is 5.0 percent of wages up to $13,000, and federal unemployment tax is 0.8 percent of wages up to $13,000. Assume that Sam has voluntary withholdings of $10 (in addition to taxes) and that federal and state income tax withholdings are $18 and $6, respectively.
Using the information above, what is the employer's payroll tax expense for the week, assuming that Sam Jones is the only employee?

• A) $6.32
• B) $26.90
• C) $10.00
• D) $19.05

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Definitions:

Super-Event

An exceptionally significant or large-scale event that has a profound impact on its participants or the surrounding environment.

Unique-Event

A one-of-a-kind occurrence or happening that is distinct from other events in its specificity or significance.

Marginal Cost

This is the additional cost of producing one more unit of a good or service.

Multiple Suppliers

A sourcing strategy where a company uses various suppliers to mitigate risks and ensure a steady supply of products or components.