Phil Phoenix Is Paid on a Monthly Basis

question 35

Multiple Choice

Phil Phoenix 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 0.8%,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?

• A)$56.00
• B)$120.18
• C)$378.00
• D)$513.86
• E)$1,068.04

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Definitions:

Compulsion

Compulsion involves repetitive, unwanted behaviors or mental acts that an individual feels driven to perform, often in response to obsessive thoughts.

Biological

Relating to the processes and substances that occur within living organisms.

Behavioral-evolutionary

Refers to the study and application of evolutionary psychology principles to understand the development and adaptation of human behavior.

Humanistic

This approach or philosophy emphasizes the importance of human values and dignity, often focusing on individual potential and personal growth.