Question

Peyton Company's payroll for the year is $737,910. Of this amount, $472,120 is for wages paid in excess of $7,000 to each individual employee. The SUTA rate in Peyton Company's state is 2.9% on the first $7,000 of each employee's earnings. Compute:

Net FUTA tax $________

Net SUTA tax $_________

Total unemployment taxes $________

 

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