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A Company's Employer Payroll Tax Rates Are 0

Question 154

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A company's employer payroll tax rates are 0.6% for federal unemployment taxes, 5.4% for state unemployment taxes, 6.2% for FICA social security taxes on earnings up to $117,000, and 1.45% for FICA Medicare taxes on all earnings. Compute the W-2 Wage and Tax Statement information required below for the following employees:  Employee  Gross Earnings  Federal Inoome Taxes Withheld  A. Baylor $14,000$17,600 C. Jasmine 52,0008,200\begin{array} { | l | r | r | } \hline \text { Employee } & \text { Gross Earnings } & \text { Federal Inoome Taxes Withheld } \\\hline \text { A. Baylor } & \$ 14,000 & \$ 17,600 \\\hline \text { C. Jasmine } & 52,000 & 8,200 \\\hline\end{array}  A. Baylor  C. Jasmine  W-2 Information:________Feder al Inoome Tax Withheld ________ Wages, Tips, Other Compensation________ social Security Tax Withheld________ social Security Wages________Medicare Tax withheld ________ Medicare Wages________\begin{array}{|l|r|r|} \hline& \text { A. Baylor } & \text { C. Jasmine } \\\hline \text { W-2 Information:}&\_\_\_\_&\_\_\_\_\\\hline \text {Feder al Inoome Tax Withheld }&\_\_\_\_&\_\_\_\_\\\hline \text { Wages, Tips, Other Compensation}&\_\_\_\_&\_\_\_\_\\\hline \text { social Security Tax Withheld}&\_\_\_\_&\_\_\_\_\\\hline \text { social Security Wages}&\_\_\_\_&\_\_\_\_\\\hline \text {Medicare Tax withheld }&\_\_\_\_&\_\_\_\_\\\hline \text { Medicare Wages}&\_\_\_\_&\_\_\_\_\\\hline\end{array}

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