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Question
An employee earned $4,600 in February working for an employer. Cumulative earnings of the previous pay periods are $4,800. The FICA tax rate for Social Security is 6.2% and the FICA tax rate for Medicare is 1.45%. The current FUTA tax rate is 0.6%, and the SUTA tax rate is 4.4%. Both unemployment taxes are applied to the first $7,000 of an employee's pay. What is the amount the employer should record as payroll taxes expense for the month of February?A.$581.90
B.$110.00
C.$351.90
D.$461.90
E.$230.00
Answer
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Direct labor X X
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Variable manufacturing overhead
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Match the following
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Q:
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