The chief executive officer earns $20,100 per month. As of May 31, her gross pay was $100,500. The tax rate for Social Security is 6.2% of the first $118,500 earned each calendar year and the FICA tax rate for Medicare is 1.45% of all earnings. The current FUTA tax rate is 0.6%, and the SUTA tax rate is 5.4%. Both unemployment taxes are applied to the first $7,000 of an employee's pay. What is the amount of FICA - Social Security withheld from this employee for the month of June?
a. $7,347.00.
b. $1,116.00.
c. $291.45
d. $1,246.20.
e. $261.00.
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