Jason\'s gross pay for the week is $1,900. His year - to date pay is under the l

Question

Jason's gross pay for the week is $1,900. His year - to date pay is under the limit for OASDI. Assume that the rate for state and federal unemployment compensation taxes is 6% and that Jason's year-to-date pay has not yet exceeded the $7,000 cap. What is the total amount of payroll taxes that his employer must record as payroll tax expenses? (Do not round your intermediate calculations. Assume a FICA-OASDI Tax of 6.2% and FICA-Medicare Tax of 1.45%) O A. $233.74 O B. $11780 O C. $259.35 O D. $107.35

Explanation / Answer

Answer is $ 259.35 Payroll Tax expense of employer: FICA OASDI tax (1900*6.2%) 117.8 Medicare Tax (1900*1.45%) 27.55 State and Federal Unemployment tax (1900*6%) 114 Total Payroll Tax expense 259.35

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