7 58 me DESAI ABC Consulting had two employees with the following earnings information Cumulative Gross...

 

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7 58 me DESAI ABC Consulting had two employees with the following earnings information Cumulative Gross Earnings Earning as for Week of Employee 11/30/20x1 Poppy Smith Ending 12/15/20x1 $800 $4,200 $ 6,300 Henry Murphy $130,100 Use the table above to calculate the employer payroll income taxes associated with Poppy's December 15 paycheck given the following tax rates: Social Security tax of 6.2% is levied on the first $132.900 of annual wages and the Medicare tax rate is 1.45% on all earnings. State unemployment tax of 5.4% and federal unemployment tax of 0.6% are both levied on only the first $7,000 of each employee's annual earnings Multiple Choice $115.20 $103.20 $61.20 7 58 me DESAI ABC Consulting had two employees with the following earnings information Cumulative Gross Earnings Earning as for Week of Employee 11/30/20x1 Poppy Smith Ending 12/15/20x1 $800 $4,200 $ 6,300 Henry Murphy $130,100 Use the table above to calculate the employer payroll income taxes associated with Poppy's December 15 paycheck given the following tax rates: Social Security tax of 6.2% is levied on the first $132.900 of annual wages and the Medicare tax rate is 1.45% on all earnings. State unemployment tax of 5.4% and federal unemployment tax of 0.6% are both levied on only the first $7,000 of each employee's annual earnings Multiple Choice $115.20 $103.20 $61.20

Answer rating: 100% (QA)

Solution Correct answer is option 10320 Wo... View the full answer