An Employee Earned $62,500 During the Year Working for an Employer.The

question 157

Multiple Choice

An employee earned $62,500 during the year working for an employer.The FICA tax rate for Social Security is 6.2% of the first $128,400 of employee earnings per calendar year and the FICA tax rate for Medicare is 1.45% of all earnings.The current 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.What is the amount of total unemployment taxes the employee must pay?

• A)$101.50
• B)$56.00
• C)$378.00
• D)$434.00
• E)$0.00

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Definitions:

Roles

Roles are the functions or positions that individuals occupy in a social, professional, or organizational context, defining their responsibilities and expectations.

In-group

A social group to which a person psychologically identifies as being a member, contrasting with an "out-group" which one does not identify with.

Negotiating

The process of discussing and reaching a mutually agreeable outcome or settlement between two or more parties with different preferences or interests.

Job and Task Guidelines

Guidelines that define the specific responsibilities, activities, and outcomes expected from an employee's position.