Mission Company Has Three Employees What Are Mission Company's Total August Payroll Taxes for Smith

question 53

Multiple Choice

Mission Company has three employees: $\begin{array}{l}&\text { Gross Pay through July}&\text { Gross Pay for August }\\\text { Smith } & \$ 3,200 & \$ 1,000 \\\text { Cain } & 25,800 & 3,500 \\\text { Clark } & 94,600 & 13,100\end{array}$
$$\begin{array} { l c l } \text { Tax } & \text { Rate } & \text { Applied To } \\\text { FICA-Social Security } & 6.20 \% & \text { First } \$ 106,800 \\\text { FICA-Medicare } & 1.45 & \text { All gross pay } \\\text { FUTA } & .80 & \text { First } \$ 7,000 \\\text { SUTA } & 5.40 & \text { First } \$ 7,000\end{array}$$ What are Mission Company's total August payroll taxes for Smith?

• A) $ 62.00
• B) $138.50
• C) $443.20
• D) $581.70
• E) $76.50

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Definitions:

Early Retirement

The act of leaving one's job or career, and ceasing to work before the traditional retirement age.

Elderly Person

An individual typically regarded as being advanced in age, often classified as someone who is 65 years old or older, experiencing various physical, psychological, and social changes.

Maltreat

To treat someone in a cruel or violent way, often referring to abuse that can be physical, emotional, or neglectful in nature.

Financial Exploitation

The illegal or improper use of an individual’s funds, property, or assets, often targeting the elderly or those unable to manage their own finances.