Using the information below, determine the amount of the payroll tax expense for B. Harper Company's first payroll of the year. In your answer list the amounts for FICA (OASDI and Medicare), SUTA, and FUTA.
Assume:
FICA tax rates are: OASDI 6.2% on a limit of $106,800 and Medicare 1.45%
State Unemployment tax rate is 5.0% on the first $7,000
Federal Unemployment tax rate is 0.8% on the first $7,000
Definitions:
Animosity
A strong feeling of hostility or antagonism towards someone or something.
Martin Delaney
An African American abolitionist, journalist, physician, and writer, known for his advocacy for black nationalism and for being one of the first proponents of African American emigration to Africa.
American Blacks
A term referring to African Americans, emphasizing their identity and heritage in the United States.
Future
The time or a period of time following the moment of speaking or writing; time regarded as still to come.
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