From the following information, calculate the payroll tax expense for Aim Company for the payroll of...

 

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From the following information, calculate the payroll tax expense for Aim Company for the payroll of April 9: (Click the icon to view the payroll.) The FICA tax rate for OASDI is 6.2% on the first $127,200 earned, and Medicare is 1.45% on all earnings. Federal unemployment tax is 0.6% on the first $7,000 earned by each employee. The SUTA tax rate for Aim Company is 5.4% on the first $7,000 of employee earnings for state unemployment purposes. (Round to the nearest cent as needed.) X Data Table Cumulative Earnings Before Weekly Payroll Gross Pay for the Week $ $ 900 Total 3,800 6,900 800 7,500 340 Employee I. Benson K. Larry V. North From the following information, calculate the payroll tax expense for Aim Company for the payroll of April 9: (Click the icon to view the payroll.) The FICA tax rate for OASDI is 6.2% on the first $127,200 earned, and Medicare is 1.45% on all earnings. Federal unemployment tax is 0.6% on the first $7,000 earned by each employee. The SUTA tax rate for Aim Company is 5.4% on the first $7,000 of employee earnings for state unemployment purposes. (Round to the nearest cent as needed.) X Data Table Cumulative Earnings Before Weekly Payroll Gross Pay for the Week $ $ 900 Total 3,800 6,900 800 7,500 340 Employee I. Benson K. Larry V. North

Answer rating: 100% (QA)

SUTA 90054 10054 5400 Med... View the full answer