23 the employer tax on gross wages that is paid towards federal funding of state com 4312254

23 the employer tax on gross wages that is paid towards federal funding of state com 4312254

23) The employer tax on gross wages that is paid towards federal funding of state compensation for unemployed workers is called:

A) Social Security and Medicare.

B) Federal Unemployment (FUTA).

C) State Unemployment (SUTA).

D) Worker's Compensation.

24) The employer tax on gross wages that is paid to fund state compensation for unemployed workers is called:

A) Social Security and Medicare.

B) Federal Unemployment (FUTA).

C) State Unemployment (SUTA).

D) Worker's Compensation.

25) Employer contributions to a state fund that compensates injured workers is called:

A) Social Security and Medicare.

B) Federal Unemployment (FUTA).

C) State Unemployment (SUTA).

D) Worker's Compensation.

26) Employer plans such as a 401K or IRA plan are called:

A) Retirement Plans.

B) Health Insurance.

C) State Unemployment.

D) Worker's Compensation.

27) Employer premiums for health insurance are called:

A) Retirement Plan expense.

B) Health Insurance expense.

C) State Unemployment tax.

D) Worker's Compensation tax.

28) In a manual accounting system, the accountant prepare a spreadsheet to calculate employee net pay and this spreadsheet is called a:

A) Payroll Journal.

B) Payroll Register.

C) General Journal.

D) Current Earnings Report.

29) If John's taxable wages were $785, and his Social Security tax withholding was 6.2 percent (.062), his FICA tax would be:

A) $48.67.

B) $46.99.

C) $49.50.

D) $45.62.

30) If John's taxable wages were $785, and his Medicare tax withholding was 1.45 percent (.0145), his Medicare tax would be:

A) $12.30.

B) $13.81.

C) $11.38.

D) $11.72.

31) If John's taxable wages were $785, and his state tax withholding was 2 percent (.02), his state tax would be:

A) $15.79.

B) $15.70.

C) $13.57.

D) $14.97.

32) If John's taxable wages were $785, his FICA tax withheld was $48.67, His Medicare tax withheld was $11.38, and his state tax withheld was $15.70, and he had no other deductions, his net pay would be:

A) $703.24.

B) $709.25.

C) $731.22.

D) $718.69.

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