(Chapters 1-12) Saved Help Save & Exit An employee earns $6,500 per month working for an employer. The FICA tax rate for Social Security is 6.2% of the first $128.400 of earnings each 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%TBoth unemployment taxes are applied to the first $7,000 of an employee's pay. The employee has $222 in federal income taxes withheld. The employee has voluntary deductions for health insurance of $190 and contributes $95 to a retirement plan each month. What is the amount the employer should record as payroll taxes expense for the employee for the month of January? $497.25 $541.25 $978.00 $88725 $739.25