An employee earned $42,900 working for an employer in the current year. The current rate for FICA Social Security is 6.2% payable on earnings up to $128,400 maximum per year and the rate for FICA Medicare 1.45%. The employer's total FICA payroll tax for this employee is:A. $0, since the FICA tax is only deducted from an employee's pay.B. $2,659.80.C. $622.05.D. $6,563.70.E. $3,281.85.

E. $3,281.85

Explanation:

The following are given in the question:

Employee earnings in the current year = $42,900

FICA Social Security = 6.2%

FICA Medicare = 1.45%

Since the employee earning is still below $128,400 maximum per year, the employer's total FICA payroll tax for this employee can be calculated as follows:

Total FICA payroll tax = Employee earnings in the current year * (FICA Social Security + FICA Medicare) (1)

Substituting the values into equation (1), we have:

Total FICA payroll tax = $42,900 * (6.2% + 1.45%)

Total FICA payroll tax = $42,900 * 7.65%

Total FICA payroll tax = $3,281.85

Therefore, the correct option is E. $3,281.85.

This is the same process we have used for the other two questions I have answered for you. Find the multiplier in the table for the person listed in the question. Multiply that number by the face value of the policy divided by 1000.

This will give you the answer.