From the following information, calculate the payroll tax expense for New Company for the payroll...
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Accounting
From the following information, calculate the payroll tax expense for New Company for the payroll of April 9: LOADING... (Click the icon to view the payroll.) The FICA tax rate for OASDI is 6.2% on the first $ 127 comma 200 earned, and Medicare is 1.45% on all earnings. Federal unemployment tax is 0.6% on the first $7,000 earned by each employee. The SUTA tax rate for New Company is 5.4% on the first $7,000 of employee earnings for state unemployment purposes. (Round to the nearest cent as needed.)
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