(Answered) Question - ones corporation pays its employees monthly the

Accounting

Question - Ones Corporation pays its employees monthly. The following information is available for the January payroll:

Gross wages $ 70000

FICA Rate 8%

Unemployment taxes:

Federal 0.5%

State 2.7%

Federal Income Tax Withheld $14,000

All employees' salaries are subject to the tax rates mentioned above for Jone Corporation.

Using the information above, the company's total expense related to the January payroll is

A) $84,000

B) $75,600

C) $77,840

D) $70,000

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