Use this information to answer the following question. $\begin{array}{lrlr}
\text { Gross payroll } & \$ 16,000 & \text { Federal income taxes withheld } & \$ 1,800 \
\text { Social security and Medicare rate } & 7.65 \% & \text { Federal unemployment tax rate } & .8 \%\
\text { State unemployment tax rate}&5.4\%
\end{array}$
Payroll Taxes and Benefits Expense would be recorded for

Question

Use this information to answer the following question. $\begin{array}{lrlr}
\text { Gross payroll } & \$ 16,000 & \text { Federal income taxes withheld } & \$ 1,800 \
\text { Social security and Medicare rate } & 7.65 \% & \text { Federal unemployment tax rate } & .8 \%\
\text { State unemployment tax rate}&5.4\%
\end{array}$
 Payroll Taxes and Benefits Expense would be recorded for

Quizplus · Accepted Answer

Payroll taxes and benefits expense includes the employer's portion of Social Security and Medicare taxes (7.65% of $16,000 = $1,224), federal unemployment tax (0.8% of $16,000 = $128), and state unemployment tax (5.4% of $16,000 = $864). Adding these gives $1,224 + $128 + $864 = $2,216.

Use This Information to Answer the Following Question Payroll Taxes and Benefits Expense Would Be Recorded for A)

Use This Information to Answer the Following Question Payroll Taxes and Benefits Expense Would Be Recorded for
A)