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 5.6% and FUTA tax at a rate of 0.4% on the first $7,000 of Gonzales's salary. Compute the total cost to Goodson of employing Gonzales for the year. If required, round your answer to the nearest cent.

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A: Payroll Taxes = FICA SS Tax + FICA Medicare Tax + FUTA Tax + SUTA Tax= 544.87+ 127.42 + 42 +…

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A:

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A:

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A:

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A: Normal Pay                     $20×40            =$800 Over time pay                 $30×10…

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A: Part 1:

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A: Answer : $6,846.92

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A: