For each circumstance, 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: Hometown Bakery employs three workers who, as of the beginning of the current pay period, have earned $16,200, $7,150, and $4,000. Calculate SUTA tax for the current pay period if these employees earn taxable pay of $1,590, $2,070, and $910, respectively. SUTA tax = $ 2: Electronics Outlet employs two workers who, as of the beginning of the current pay period, have earned $8,400 and $7,200. Calculate SUTA tax for the current pay period if these employees earn taxable pay of $3,090 and $2,350, respectively SUTA tax = $ 3 Delivery, Inc. employs 127 workers who, for the current pay period, earn total faxable pay of $347,540. Of this amount, only $29.400 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 S
For each circumstance, 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: Hometown Bakery employs three workers who, as of the beginning of the current pay period, have earned $16,200, $7,150, and $4,000. Calculate SUTA tax for the current pay period if these employees earn taxable pay of $1,590, $2,070, and $910, respectively. SUTA tax = $ 2: Electronics Outlet employs two workers who, as of the beginning of the current pay period, have earned $8,400 and $7,200. Calculate SUTA tax for the current pay period if these employees earn taxable pay of $3,090 and $2,350, respectively SUTA tax = $ 3 Delivery, Inc. employs 127 workers who, for the current pay period, earn total faxable pay of $347,540. Of this amount, only $29.400 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 S
College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
22nd Edition
ISBN:9781305666160
Author:James A. Heintz, Robert W. Parry
Publisher:James A. Heintz, Robert W. Parry
Chapter9: Payroll Accounting: Employer Taxes And Reports
Section: Chapter Questions
Problem 7SPA
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