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Triston Vale Is Paid on a Monthly Basis

question 15

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Triston Vale is paid on a monthly basis.For the month of January of the current year,he earned a total of $5,210.FICA tax for Social Security is 6.2% on the first $128,400 of earnings each calendar year and the FICA tax for Medicare is 1.45% of all earnings.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 $885.70.What is the amount of the employer's payroll taxes expenses for this employee?


Definitions:

Economy

The system of production, distribution, and consumption of goods and services within a particular area or country.

Job Families

Groups of different jobs that are closely related by similar duties, responsibilities, skills, or job elements.

Similar Duties

Tasks or responsibilities that are very much alike in nature and scope.

Autonomy

The capacity to make one's own decisions and to have control over one’s own work and actions without continuous supervision.

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