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Cougar Consulting Company pays 7 employees $25 per hour. These 7 employees work 40 hours per week. The company withholds the following amounts: 7.65 percent

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Cougar Consulting Company pays 7 employees $25 per hour. These 7 employees work 40 hours per week. The company withholds the following amounts: 7.65 percent for FICA taxes 15 percent for federal income taxes 5 percent for state income taxes Cougar Consulting Company's unemployment rates are as follows: Federal Unemployment Tax Assesment (FUTA) rate is 0.9 percent State Unemployment Tax Assessment (SUTA) rate is 3.6 percent. 1. What is Cougar Consulting Company's gross payroll for the 7 employees for one week? 2. What is the total net pay for the 7 employees for the week? 3. What is the total cost of payroll to Cougar Consulting for the 7 employees for the week? HINT: Do not forget that employees pay 7.65% of their gross pay for FICA taxe and the company also pays that amount (matches it). This results in a total of 15.30% of gross payroll to the government, half deducted from employee's checks and half contributed by the company

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