Check my work Given the following, calculate the state (assume 5.3%) and federal unemployment taxes that the employer must pay for each of the first two quarters. The federal unemployment tax is 0.6% on the first $7,000. Both state and federal unemployment taxes apply to the first $7,000 only. (Round your answers to the nearest cent.) PAYROLL SUMMARY Quarter 1 $ 4,000 8,000 3,200 Quarter 2 $ 8,000 14,000 3,800 Bill Adams Rich Haines Alice Smooth PAYROLL SUMMARY Quarter 1 Quarter 2 Total 14,200.00 SUTA 752.60 FUTA 2$ 85.20

College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter8: Employer Taxes, Payments, And Reports
Section: Chapter Questions
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Given the following, calculate the state (assume 5.3%) and federal unemployment taxes that the
employer must pay for each of the first two quarters. The federal unemployment tax is 0.6% on the
first $7,000. Both state and federal unemployment taxes apply to the first $7,000 only. (Round your
answers to the nearest cent.)
PAYROLL SUMMARY
Bill Adams
Rich Haines
Alice Smooth
Quarter 1
$ 4,000
8,000
3,200
Quarter 2
$ 8,000
14,000
3,800
PAYROLL SUMMARY
Quarter 1
Quarter 2
Total
$
14,200.00
SUTA
2$
752.60
FUTA
2$
85.20
Transcribed Image Text:Check my work Given the following, calculate the state (assume 5.3%) and federal unemployment taxes that the employer must pay for each of the first two quarters. The federal unemployment tax is 0.6% on the first $7,000. Both state and federal unemployment taxes apply to the first $7,000 only. (Round your answers to the nearest cent.) PAYROLL SUMMARY Bill Adams Rich Haines Alice Smooth Quarter 1 $ 4,000 8,000 3,200 Quarter 2 $ 8,000 14,000 3,800 PAYROLL SUMMARY Quarter 1 Quarter 2 Total $ 14,200.00 SUTA 2$ 752.60 FUTA 2$ 85.20
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