The weekly payroll of Abkar Hardware includes 19 employees who earn $280.00 each. How much is the employer's share of total social security and Medicare taxes for the first quarter of the year?

Question

Quizplus · Accepted Answer

The employer's share of Social Security and Medicare taxes (FICA) is 7.65% of each employee's gross pay. Weekly payroll for 19 employees at $280 each is $5,320. Over a quarter (13 weeks), this totals $69,160. The employer's share is 7.65% of $69,160, which equals $5,290.74.

The Weekly Payroll of Abkar Hardware Includes 19 Employees Who