Roger has three employees who earn $500, $550, and $700, respectively. how much does Roger owe for SUTA and FUTA in the first weeks? Assume a SUTA rate of $5.3% and a FUTA rate(after the company's credit for state unemployment tax) of .8%
I have no idea what SUTA and FUTA are. You need to explain your acronyms.
Are the salaries per week or month?
How many weeks are the "first weeks"?
jose, Paul, and Dan went fishing. It was a good day,and all three of them caught a fish. Dan's fish weighed four times as much as Paul's fish, and Jose's fish weighed half as much as Dan's fish. Altoghther, the three fish weighed 21 pounds. How much did each fish weigh?
To calculate the amount Roger owes for SUTA and FUTA (State Unemployment Tax and Federal Unemployment Tax Act), you need to determine the taxable wages for each employee.
First, let's find the taxable wages for each employee by subtracting any applicable exemptions or deductions. For the sake of this calculation, let's assume there are no exemptions or deductions.
Employee 1: $500
Employee 2: $550
Employee 3: $700
Now, we can calculate the SUTA obligation by multiplying the taxable wages of each employee by the SUTA rate.
SUTA rate: 5.3%
SUTA for Employee 1: $500 * 0.053 = $26.50
SUTA for Employee 2: $550 * 0.053 = $29.15
SUTA for Employee 3: $700 * 0.053 = $37.10
To calculate the FUTA obligation, you need to consider the FUTA rate after the company's credit for state unemployment tax.
FUTA rate: 0.8%
FUTA for Employee 1: $500 * 0.008 = $4.00
FUTA for Employee 2: $550 * 0.008 = $4.40
FUTA for Employee 3: $700 * 0.008 = $5.60
Finally, you can find the total amount Roger owes for SUTA and FUTA in the first week by summing up the individual amounts for SUTA and FUTA.
Total SUTA amount: $26.50 + $29.15 + $37.10 = $92.75
Total FUTA amount: $4.00 + $4.40 + $5.60 = $14.00
Therefore, Roger owes a total of $92.75 for SUTA and $14.00 for FUTA in the first week.