Gross payroll for the employees of Herman Company totals $200,000 per week. From this must be...

Transcribed Image Text:

Gross payroll for the employees of Herman Company totals $200,000 per week. From this must be withheld Social Security taxes of 6.20% and Medicare taxes of 1.45%. In addition, federal and state income tax withholdings amount to 10.00% of gross payroll. How much CASH is paid to EMPLOYEES for one week? O $164,700 $180,000 O $181.800 O $181,620 $221,800 O $220,000 Gross payroll for the employees of Herman Company totals $200,000 per week. From this must be withheld Social Security taxes of 6.20% and Medicare taxes of 1.45%. In addition, federal and state income tax withholdings amount to 10.00% of gross payroll. How much CASH is paid to EMPLOYEES for one week? O $164,700 $180,000 O $181.800 O $181,620 $221,800 O $220,000

Answer rating: 100% (QA)

Amount Gross Payroll 200000 Less Social Security Tax Gr... View the full answer