Striker 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 6.2% 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 does the company owe on these employees for the first quarter of the year? B. How much SUTA and FUTA tax does Striker owe for the second quarter of the year?
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
Striker 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 6.2% 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 does the company owe on these employees for the first
quarter of the year?
B. How much SUTA and FUTA tax does Striker owe for the second quarter of the year?
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