Hobby Hut has three employees.  Find the amount subject FUTA and the amount of the FUTA for this pay period for each employee.  If the YTD is already more than $7000, then $0 is subject to FUTA and the FUTA TAX is $0. And the FUTA rate is at 6.0% or 0.006. Do not put dollars signs in your answers. Employee Year to Date Gross this Pay period Suject to FUTA FUTA Paul Braun 5999 1234               Jackie Prince 9856 2543               Flora Jones 3456 1009

Q: loyee. FICA Social Security taxes are 6.2% of the first $128,400 paid to its employee, and FICA…

A: Tax Liability is the different company's taxable income as shown in the income statement and in…

Q: J. B. Kenton employs Sharla Knox at a salary of $33,700 a year. Kenton is subject to employer Social…

A: Salary: Salary means Employer gives payment to employees for the work contribution. Total cost…

Q: Moravanti Italian Imports has four employees and pays biweekly. Assume that box 2 is not checked for…

A: To calculate the federal income tax withholding for each employee, we need to follow these steps:1.…

Q: An employee's rate of pay is $36 per hour, with time-and-a-half for all hours worked in excess of 40…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: An employer in Cary, NC, employs three individuals, whose taxable earnings to date (prior to the…

A: FUTA Tax Calculation:The Federal Unemployment Tax Act (FUTA) tax is a payroll tax that helps fund…

Q: Maze Company has one employee that is paid $1,000 weekly. All of the employee's wages are subject to…

A: Payroll tax expense is the amount if tax charged on the payroll paid to the employees. It includes…

Q: An employee has year-to- date earnings of $41,050. The employee's gross pay for the next pay period…

A: Federal Insurance Contributions Act tax:   It is a federal payroll contribution that is directed for…

Q: Laura Strand’s regular hourly wage rate is $20, and she receives an hourly rate of $30 for work in…

A: Journal entries are the primary reporting of the business transactions in the books of accounts.…

Q: Mary Gonzalez had total cumulative gross earnings of $5,800 as of 1/31/20X1. Her gross earnings for…

A: State unemployment and Federal unemployment taxes are employer payroll taxes. These taxes are not…

Q: Compute BMX's amounts for each of these four taxes as applied to the employee's gross earnings for…

A: Taxes on Social Security:The Federal Insurance Contributions Act (FICA) mandates a payroll tax and…

Q: Moravanti Italian Imports has four employees and pays biweekly. Assume that box 2 is not checked for…

A: Income tax:Income tax refers to the amount of money that is bound to be paid by a taxpayer to the…

Q: Susan Corbin's regular hourly wage rate is $20, and she receives an hourly rate of $30 for work in…

A: Total pay to the employee is a total pay less total deduction. We can formulate it as, Gross earning…

Q: An employee earns $40 per hour and 1.5 times that rate for all hours in excess of 40 hours per week.…

A: The answer is as fallows

Q: An employee earns $16 per hour and 1.5 times that rate for all hours in excess of 40 hours per week.…

A: a. Gross pay = Normal pay + Overtime pay = $16*40 + 1.5* $16* (55-40)Gross pay = $640 + $560 Gross…

Q: Audrey Martin and Beth James are partners in the Country Gift Shop, which employs the individuals…

A: The official term for Social Security income benefits is the Old Age, Survivors, and Disability…

Q: Required: Compute the net pay for Eve Khan and Marn Hart. Assume that they are paid a $2,710 salary…

A: Net Pay: Take-home pay, or the amount earned by employees after all payroll deductions are deducted…

Q: The biweekly taxable wages for the employees of Rite-Shop follow. Compute the FICA taxes for each…

A: Employee No. Employee Name Biweekly Taxable Wages OASDI (assumed 6.2%) HI (assumed 1.45%) 711…

Q: Required information [The following information applies to the questions displayed below.] BMX…

A: Calculate the taxes to be withheld from gross pay:

Q: Your answer is partially correct. Karen Peters' regular hourly wage rate is $42, and she receives an…

A: The FICA taxes are levied on the compensation to employees. The FICA taxes are established to fund…

Q: Jason Jefferies earned $10,200 while working for Brown Company. The company's SUTA tax rate is 2.9%…

A: Given: SUTA rate = 2.9% Payroll = $7,000

Q: Practice, Practice, Practice For the current pay period, compute the following for the employees of…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: Use the following information for the Exercises below. (Algo) Skip to question [The following…

A: Income tax:The income tax refers to the amount that is paid by the taxpayer to the tax authority of…

Q: Moravanti Italian Imports has four employees and pays biweekly. Assume that box 2 is not checked for…

A: Solution:-The question asks to complete Section 2(b) of the W-4 multi-jobs worksheet for each of the…

Q: Calculate Payroll Breakin Away Company has three employees-a consultant, a computer programmer, and…

A: Gross Pay:It is the total earning of the employee that includes both regular and overtime…

Q: Compute the FICA taxes for each employee and the employer's FICA taxes. Round all computations to…

A: Under federal law, employers are required to deduct 6.2% of employees wages as his or her OASDI/EE…

Q: Total Cost of Empleyee R.D. Kagen employs Audrey Lopez at a salary of $33,800 a year. Kagen is…

A: Payroll: It can be defined as the total payment made by an employer to its employee.

Q: Betty Strand's regular hourly wage rate is $18, and she receives an hourly rate of $27 for work in…

A: The Gross earnings refer to an total amount of the  money earned by an individual before any…

Q: Compute the net pay for each employee using the federal income tax withholding table included.…

A: Payroll taxes refer to those taxes paid by both employer and employee in order to fund the employee…

Q: For all payroll calculations, use the following tax rates and round amounts to the nearest cent:…

A: 1) Computation of gross pay for working of 58 hours during the first week of February :- Gross pay =…

Q: Deep Mouse Designs has 14 employees within Denver City and County. The employees earned $9.80 per…

A: Salary earned by each employee per month=Number of hours worked×Per hour earning=160×$9.80=$1,568

Q: Laura Corbin’s regular hourly wage rate is $20, and she receives an hourly rate of $30 for work in…

A: Solution:- Preparation of the journal entries to record (a) Laura’s pay for the period and (b) the…

Q: Thomas Martin receives an hourly wage rate of $22, with time and a half for all hours worked in…

A: Based on the given information, Excess hours worked = 44-40 = 4 hours Normal wage rate for hours…

Q: Assume a tax rate of 6.2% on $142,800 for Social Security and 1.45% for Medicare. No one will reach…

A: Tax refers to the amount charged by the government from the organizations and individuals on the…

Q: BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $117,000 paid to its…

A: Payroll tax can be defined as the tax that is withheld, charged, or levied on the payroll of the…

Q: An appliance company has three installers. Larry earns $315 per week, Curly earns $470 per week, and…

A: The objective of the question is to calculate the SUTA and FUTA tax that the company owes for the…