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Elementary,Middle School,High School,College,University,PHD
| Teaching Since: | May 2017 |
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| Questions Answered: | 66690 |
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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
MRI Company has one employee. FICA Social Security taxes are 6.2% of the first $106,800 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For MRI, its FUTA taxes are 0.8% and SUTA taxes are 2.9% of the first $7,000 paid to its employee. Compute MRI’s amounts for each of these four taxes as applied to the employee’s gross earnings for September under each of three separate situations (a), (b), and (c).
|
Gross Pay through August |
Gross Pay for September |
|
|
a. |
$ 6,400 |
$ 800 |
|
b. |
18,200 |
2,100 |
|
c. |
100,500 |
8,000 |
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