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Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
Edition 7ISBN: 978-1285448596Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
Edition 7ISBN: 978-1285448596 Exercise 98
Use the combined wage bracket tables , Exhibits 9-3 and 9-4, for Exercises 16 and 17.
Universal Exporting has three warehouse employees: John Abner earns $422 per week, Anne Clark earns $510 per week, and Todd Corbin earns $695 per week. The company's SUTA tax rate is 5.4%, and the FUTA rate is 6.0% minus the SUTA. As usual, these taxes are paid on the first $7,000 of each employee's earnings.
a. How much SUTA and FUTA tax did the company pay on these employees in the first quarter of the year?
b. How much SUTA and FUTA tax did Universal pay in the second quarter of the year?
Universal Exporting has three warehouse employees: John Abner earns $422 per week, Anne Clark earns $510 per week, and Todd Corbin earns $695 per week. The company's SUTA tax rate is 5.4%, and the FUTA rate is 6.0% minus the SUTA. As usual, these taxes are paid on the first $7,000 of each employee's earnings.
a. How much SUTA and FUTA tax did the company pay on these employees in the first quarter of the year?
b. How much SUTA and FUTA tax did Universal pay in the second quarter of the year?
Explanation
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Following information is given:
Weekly ...
Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
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