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I know the answer is $1,370, but I need to know to calculate it.I'm missing something. Thanks,

Assuming no employees are subject to ceilings for theirearnings, Jensen Company has the following information for the payperiod of January 15 - 31, 20xx.

Gross payroll

$10,000

 

Federal income tax withheld

$1,800

Social security rate

6%

 

Federal unemployment tax rate

.8%

Medicare rate

1.5%

 

State unemployment tax rate

5.4%

 

 

 

 

 

Assuming that all wages are subject to federal and stateunemployment taxes, the Payroll Taxes Expense would be recordedas:

A. $1,370

B. $750

C. $620

D. $2,870

Solved
Taxation 2 Weeks Ago
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