Homework Answers
| Gross earnings | 1375 | =(40*22)+(55-40)*22*1.5 |
| Social Security tax | 85.25 | =1375*6.2% |
| Medicare tax | 19.94 | =1375*1.45% |
| Employer's payroll tax expense | 105.19 | |
| Option 1 $105.19 is correct | ||
| Note: Unemployment taxes is $0 as cumulative wages exceeds $7000 | ||
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