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

question 104

Multiple Choice

An employee earned $62,500 during the year working for an employer. The FICA tax rate for Social Security is 6.2% and the FICA tax rate for Medicare is 1.45%. The current 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. 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:

Stages Of Death

A concept often referring to the Kubler-Ross model, which includes denial, anger, bargaining, depression, and acceptance as emotional stages experienced by terminally ill patients.

Acceptance

The act of receiving or taking something offered, or the recognition of a new situation or condition without attempting to change it.

Hospice Care

Care provided for the dying in places devoted to those who are terminally ill.