Short multiple choice exercises 1&2

A Normal No Spacing Heading 1 Heading 2 Tile SUL 1.An employee earned $61,600 during the year working for an employer. The Federal Insurance Contributions Act (FICA) tax rate for Social Security is 6.2% of the first $137,700 of employee earnings per calendar year, and the Federal Insurance Contributions Act (FICA) tax rate for Medicare is 1.45% of all earnings. The current Federal Unemployment Taxes (FUTA) tax rate is 0.6%, and the State Unemployment Taxes (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 )0.00 2.An employee earned $5,400 in February working for an employer. The Federal Insurance Contributions Act (FICA) tax rate for Social Security is 6.2% of the first $137,700 earned during each calendar year and the Federal Insurance Contributions Act (FICA) tax rate for Medicare is 1.45% of all carnings. The employee has $724 in federal income taxes withheld and has voluntary deductions for health insurance of $50 and contributes S540 to a retirement plan each month. The employer pays the $220 remainder of the health insurance premium and an equal amount of contribution to the retirement fund. What is the amount of net pay for the employee for the month of February? a)3,672.90 b)4,136.00 )4,262.90 d)4,086,00 e)3.132.90