For each circumstances, calculate the SUTA tax owed by the employer. Assume a SUTA tax rate of 3.4% and a taxable earnings threshold of $8,500. NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation. 1: A-1 Framing employs three workers who, as of the beginning of the current pay period, have earned $8,550, $8,200, and $7,400. Calculate SUTA tax for the current pay period if these employees earn taxable pay of $1,100, $1,420, and $2,140, respectively. SUTA tax = $ 2: Mrs. Fix-It Corp. employs two workers who, as of the beginning of the current pay period, have earned $4,200 and $6,500. Calculate SUTA tax for the current pay period if these employees earn taxable pay of $2,700 and $2,400, respectively. SUTA tax = $ 3: Burger Bites Restaurant employs 51 workers who, for the current pay period, earn total taxable pay of $87,450. Of this amount, only $11,800 is subject to SUTA tax, as this is the portion of individual employee earnings that does not exceed the $8,500 threshold. Calculate SUTA tax based on these earnings. SUTA tax = $
For each circumstances, calculate the SUTA tax owed by the employer. Assume a SUTA tax rate of 3.4% and a taxable earnings threshold of $8,500. NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation. 1: A-1 Framing employs three workers who, as of the beginning of the current pay period, have earned $8,550, $8,200, and $7,400. Calculate SUTA tax for the current pay period if these employees earn taxable pay of $1,100, $1,420, and $2,140, respectively. SUTA tax = $ 2: Mrs. Fix-It Corp. employs two workers who, as of the beginning of the current pay period, have earned $4,200 and $6,500. Calculate SUTA tax for the current pay period if these employees earn taxable pay of $2,700 and $2,400, respectively. SUTA tax = $ 3: Burger Bites Restaurant employs 51 workers who, for the current pay period, earn total taxable pay of $87,450. Of this amount, only $11,800 is subject to SUTA tax, as this is the portion of individual employee earnings that does not exceed the $8,500 threshold. Calculate SUTA tax based on these earnings. SUTA tax = $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
1: A-1 Framing employs three workers who, as of the beginning of the current pay period, have earned $8,550, $8,200, and $7,400. Calculate SUTA tax for the current pay period if these employees earn taxable pay of $1,100, $1,420, and $2,140, respectively.
SUTA tax = $
2: Mrs. Fix-It Corp. employs two workers who, as of the beginning of the current pay period, have earned $4,200 and $6,500. Calculate SUTA tax for the current pay period if these employees earn taxable pay of $2,700 and $2,400, respectively.
SUTA tax = $
3: Burger Bites Restaurant employs 51 workers who, for the current pay period, earn total taxable pay of $87,450. Of this amount, only $11,800 is subject to SUTA tax, as this is the portion of individual employee earnings that does not exceed the $8,500 threshold. Calculate SUTA tax based on these earnings.
SUTA tax = $
Can you answer each problem?
Transcribed Image Text:For each circumstances, calculate the SUTA tax owed by the employer. Assume a SUTA tax rate of 3.4% and a taxable earnings threshold of $8,500.
NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation.
1: A-1 Framing employs three workers who, as of the beginning of the current pay period, have earned $8,550, $8,200, and $7,400. Calculate SUTA tax for the current pay
period if these employees earn taxable pay of $1,100, $1,420, and $2,140, respectively.
SUTA tax = $
2: Mrs. Fix-It Corp. employs two workers who, as of the beginning of the current pay period, have earned $4,200 and $6,500. Calculate SUTA tax for the current pay period
if these employees earn taxable pay of $2,700 and $2,400, respectively.
SUTA tax = $
3: Burger Bites Restaurant employs 51 workers who, for the current pay period, earn total taxable pay of $87,450. Of this amount, only $11,800 is subject to SUTA tax, as
this is the portion of individual employee earnings that does not exceed the $8,500 threshold. Calculate SUTA tax based on these earnings.
SUTA tax = $
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