1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Usimov [2.4K]
3 years ago
6

In April of the current year, Steelman Press Company transferred Ken Sherm from its factory in Louisiana to its plant in Florida

. The company's SUTA tax rates based on its experience ratings are 3.2% in Louisiana and 3.8% in Florida. The taxable wage limits are $7,700 in Louisiana and $7,000 in Florida. This year, Steelman Press Company paid Ken Sherm wages of $14,190; $4,950 were paid in Louisiana and the remainder in Florida. Compute the following; round your answers to the nearest cent.
a. Amount of SUTA tax the company must pay to Louisiana on Sherm's wages:_____ $
b. Amount of SUTA tax the company must pay to Florida on Sherm's wages:_______ $
c. Amount of the net FUTA tax on Sherm's wages:______ $
Business
1 answer:
Verdich [7]3 years ago
8 0

Answer:

A) $158.40

B) $77.90

C) $42

Explanation:

The question is to determine the tax figures for both the State Unemployment Tax Act (SUTA) for Louisiana and Florida and the net Federal Unemployment Tax Act (FUTA) on Sherm's wages.

A) Amount of SUTA tax the company must pay to Louisiana on Sherm's wages

Out of the $14,190 wages of Sherm for the year, $4,950 was paid in Louisiana

Meaning the State SUTA tax in Louisiana = $4,950 x the tax rate for SUTA in Louisiana = 3.2%

= $4,950 x 3.2% = $158.40

B) Amount of SUTA tax the company must pay to Florida on Sherm's wages

Out of $14,190, $4,950 was paid in Louisiana meaning (14,190 - 4,950) = 9,240 was paid in Florida

However, the taxable wage limit is $7,000

threefore, SUTA in Florida = ($7,000-$4950 x 3.8%

= $77.90

C) Amount of the net FUTA tax on Sherm's wages

Using the same taxable wage limit of $7,000

FUTA tax = $7,000 x 0.6% = $42

You might be interested in
Cheryl Adams is having trouble defining her target market for the bookstore she's opening in her town, which is home to a small
Karolina [17]
The most viable target for her to engage will be the college students and their age group. In this way, she can also tap the tourist market without really having to do much. Hope this helps! Please put Brainliest! Have a great Day!
4 0
3 years ago
Read 2 more answers
Lindsay​ Electronics, a small manufacturer of electronic research​ equipment, has approximately 6 comma 800 items in its invento
Nitella [24]

Answer:

99 items

Explanation:

Total number of items = 6,800

The number of items per type is:

A= 6,800*0.08\\A=544\ items\\B= 6,800*0.34\\B=2,312\ items\\C= 6,800*0.58\\C=3,944\ items

The number of items of each type counted per day is:

n_A=\frac{544}{20}\\n_A=27.2\\n_B=\frac{2312}{59}\\n_B=39.2\\n_C=\frac{3944}{121} \\n_C= 32.6\\

The total number of items counted per day is:

n = n_A+n_B+n_C=27.2+39.2+32.6\\n=99\ items\ per\ day

6 0
3 years ago
What is work?
bekas [8.4K]
Work refers to any useful activity.
5 0
3 years ago
Read 2 more answers
What are two characteristics of a credit union??
Fantom [35]
<span>Content CuratorContent StrategistCopywriterData AnalystDatabase AdministratorGraphic Artist<span>Information Architect</span></span>
4 0
3 years ago
Which of the following statements is FALSE?
trapecia [35]
The answer is
D. Pre-incident activities include planning to prepare and establish a JIC in every incident requiring emergency response.
6 0
3 years ago
Other questions:
  • As the owner of an art gallery with a keen eye for upcoming talent, you find a painting that you feel is sure to net a large pro
    5·1 answer
  • Jill wants to save up for a down payment for her first home to be purchased 8 years from now. If she can earn 8% on her savings
    15·1 answer
  • Which of these is NOT considered a critical contextual factor in project management? A. Organizational culture B. Organizational
    13·1 answer
  • In the circular flow model, who supplies factors of production in exchange for income?
    14·1 answer
  • The company purchases land for $24,000 by paying cash $6,000 and taking a 10-year mortgage for $18,000 (assume zero interest rat
    11·1 answer
  • The unadjusted balance of the Allowance for Doubtful Accounts of Johnston Supplies, Inc. is a credit balance in the amount of $2
    8·1 answer
  • Amy manages mobile device security for her company, an insurance firm. The company currently uses BYOD. She’s concerned about em
    10·1 answer
  • Catalogue companies are committed to selling at the prices printed in their catalogues. If a catalogue company finds its invento
    13·1 answer
  • The owners of Carpo Inc., a watch company, also own a steel company and a leather goods manufacturing company. This relieves the
    7·1 answer
  • The regulatory authority will hold you responsible for ensuring that a. guests use clean tableware when returning to self-servic
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!