The current FUTA tax rate is 0.6%, and the SUTA tax rate is 5.4%. Both taxes are applied to the first $7,000 of an employee's pay. Assume that an employee earned total wages of $2,900 in the current period and had cumulative pay for prior periods of $5,800. What is the amount of unemployment taxes the employer must pay on this employee's wages for the current period?

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: The current Federal Unemployment Taxes (FUTA) tax rate is 0.6%, and the State Unemployment Taxes…

A: Total unemployment taxes = FUTA unemployment taxes + SUTA unemployment taxes where, FUTA…

Q: Donna Strand's regular hourly wage rate is $19, and she receives an hourly rate of $20 for work in…

A: FICA (Federal Insurance Contributions Act) taxes are payroll taxes that fund two major social…

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: As of December 31, Lynn Addie has not been paid for 15 hours of work, making $25 an hour.  In…

A: Accrued wages: $375Accrued employer payroll taxes: $44.44Explanation:To calculate the accrual 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: Davis and Thompson have earnings of $913 each. The social security tax rate is 6.0%, and the…

A: Abbreviation of FICA: Federal insurance contributions Act  Both employee and employers mandatory…

Q: Hobby Hut has three employees.  Find the amount subject FUTA and the amount of the FUTA for this pay…

A: >FUTA stands for Federal Unemployment Tax Act. It is an act that imposes a payroll tax on…

Q: Helen Strand's regular hourly wage rate is $14, and she receives an hourly rate of $21 for work in…

A: Gross pay is employees' earnings before making any deductions like taxes, benefits and other payroll…

Q: The monthly salaries for December and the year-to-date earnings of the employees of Bush Consulting…

A: The Social Security tax, also known as the Federal Insurance Contributions Act (FICA) tax, is a…

Q: For tax purposes, assume that the maximum taxable earnings are $118,500 for Social Security and…

A: Taxable Earnings: These are those earnings for which one has to pay tax to the government as per the…

Q: The monthly salaries for December and the year-to-date earnings of the employees of Lincoln Project…

A: Step 1:Note:FICA social security earning base is $ 142,800.Except for Employee #4, each employee's…

Q: Runner Company incurred the following amounts for their most recent pay period for employee gross…

A: Payroll taxes are taxes imposed on employers or employees, and are usually calculated as a…

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: 1:An employer in Delaware City, Delaware, employs two individuals, whose taxable earnings to date…

A: Tax Rate applicable for: FUTA - 6% SUTA - 2.10%

Q: Sylvester's gross pay for the month of February is $3,900. His year-to-date pay is under the limit…

A: The objective of the question is to calculate the employer payroll taxes for Sylvester for the month…

Q: Steven Ray has cumulative earnings of $6,580 and earned $840 during the current payroll period. If…

A: SUTA taxes means state unemployment taxes. For these taxes, employer needs to withhold amount from…

Q: compensation rate by the state; the federal unemployment tax rate is 0.8% and the maximum for both…

A: Federal tax:- It is a U.S based income tax levied on an individual or company, firms etc on the…

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

A: 1. Calculate Person L's net pay:

Q: ​Tan's gross pay for the week is​ $1,400. His​ year-to-date pay is under the limit for OASDI. Assume…

A: Introduction:- Total payroll tax = FICA - OASDI tax + FICA - Medicare tax + State and Federal…

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

A: Given information is: On July 5, Williams Company recorded sales of merchandise inventory on account…

Q: Employee DD earned $43,300 working for an employer in the current year. The current rate for Social…

A: Please see the next step for the solution

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: the following; round your answers to the nearest cent.

A: As we know, SUTA tax = $ 7182 Net FUTA tax for 2015 = $ 520.20

Q: An employee receives an hourly rate of $17, with time and a half for all hours worked in excess of…

A: Gross pay = ($17 x 40 hours+ $17*1.5 x 9 hours) = $909.50

Q: Compute Michelle Strand’s gross earnings and net pay for the pay period.

A: Given information is: Michelle Strand’s regular hourly wage rate is $34, and she receives an hourly…

Q: Elizabeth's regular hourly wage rate is $22, and she receives an hourly rate of $33 for work in…

A: Payroll Tax Expense: It refers to an expense that is borne by the employer of the company. It…

Q: The current Federal Unemployment Taxes (FUTA) tax rate is 0.6%, and the State Unemployment Taxes…

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

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: An employee earned $50,000 during the year. FICA tax for Social Security is 6.2% and FICA tax for…

A: FICA tax is contributed both the employees and the employer with 6.2% of social security tax till…

Q: An employee earned $62,500 during the year working for an employer. The FICA tax rate for Social…

A: Step 1 The unemployment taxes (FUTA) of $42 is obtained by multiplying the earnings of $7,000 with…

Q: An employee has gross earnings of $1,600 and withholdings of $25 for income taxes, $5 for Social…

A: Given the following information: Employee Gross earnings: $1,600 Withholdings for income tax: $25…

Q: In 2020, Willow Corporation had three employees. Two of the employees worked full-time and earned…

A: Amount paid under State Unemployment Tax = [($7,000. x 2 employees) + $4,000] x state unemployment…

Q: Complete the following step: Compute and record the employee's SUTA contributions (employees pay…

A: SUTA stands for State Unemployment Tax Act . It is a payroll tax which is required to pay by…

Q: An employee earns $5,500 per month working for an employer. The FICA tax rate for Social Security is…

A: Calculation of Net pay for the month of January is as follows: