B. F. Goodson employs Eduardo Gonzales at a salary of $48,000 a year. Goodson is...
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Accounting
B. F. Goodson employs Eduardo Gonzales at a salary of $48,000 a year. Goodson is subject to employer Social Security taxes at a rate of 6.2% and Medicare taxes at a rate of 1.45% on Gonzales's salary. In addition, Goodson must pay SUTA tax at a rate of 5.8% and FUTA tax at a rate of 0.6% on the first $7,000 of Gonzales's salary.
Compute the total cost to Goodson of employing Gonzales for the year. Round your answer to the nearest cent.
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