Sue's jewelry Shoppe's July payroll includes the following data: The employer's payroll tax for the period would be:

Question

Sue's jewelry Shoppe's July payroll includes the following data:  The employer's payroll tax for the period would be:

Quizplus · Accepted Answer

To calculate the employer's payroll tax, we need to consider the Federal Insurance Contributions Act (FICA) tax, which includes Social Security tax at a rate of 6.2% and Medicare tax at a rate of 1.45%.

The total wages for the payroll period are not given, so we cannot calculate the exact amount of payroll tax. However, we can use the total amount of employee Social Security and Medicare tax withheld from their wages, which is $1,128.

The employer's portion of the FICA tax is equal to the total amount of employee Social Security and Medicare tax withheld, so the employer's payroll tax for the period would also be $1,128. Therefore, the correct answer is B.

Sue's Jewelry Shoppe's July Payroll Includes the Following Data