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ABC Company employs the following individuals: A . Dotson ( President ) $ 1 0 0 , 0 0 0 Annual T . Smith (

ABC Company employs the following individuals:
A. Dotson (President) $100,000 Annual
T. Smith (Vice-President) $5,000 Monthly
S. Johnson (Sales) $2,000 Semi-Monthly
D. Grady (Sales) $1,000 Weekly
S. Smith (Clerk) $500 Bi-Weekly
The company is required to contribute 0.6% on the first $7,000 for each employee for FUTA Taxes, and 3.5% on the first $8,000 for each employee for SUTA Taxes. Calculate the total amount for FUTA and SUTA Taxes for the Feb. 14 Semi-Monthly pay period. (Third Semi-Monthly Pay Period of the Year.)
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