Question
CPP 5-1 (#1) Calculate and Record Employer Payroll Taxes Calculate employer's total FUTA and SUTA tax. As TCLH Industries operates in North Carolina, assume a
CPP 5-1 (#1) Calculate and Record Employer Payroll Taxes
Calculate employer's total FUTA and SUTA tax. As TCLH Industries operates in North Carolina, assume a SUTA tax rate of 1.2% and a taxable earnings threshold of $25,200. Current period taxable earnings for FUTA and SUTA taxes are the same as those for FICA taxes. Year-to-date taxable earnings for FUTA and SUTA taxes, prior to the current pay period, are as follows:
- Zachary Fox: $0
- Calvin Bell: $20,478.57
- David Alexander: $198,450
- Michael Sierra: $117,600
1. Zachary Fox
FUTA tax = $
SUTA tax = $
2. Calvin Bell
FUTA tax = $
SUTA tax = $
3.David Alexander
FUTA tax = $
SUTA tax = $
4.Michael Sierra
FUTA tax = $
SUTA tax = $
Payroll Register 12/13/2020 Pay Period 12/17/2020 Pay Date Earnings Deductions Employee Regular Regular Regular Overtime Overtime Overtime Total FWT SWT Social Medicare Vol. With Check Net Pay Name Hours Rate Earnings Hours Rate Earnings Earnings Security Number Fox, Z 40 $28.00 $1,120.00 1 $42.00 $42.00 $1,162.00 $84.54 $58.10 $72.04 $16.85 $32.00 092 $898.47 Bell, C 40 $7.30 $292.00 11.5 $10.95 $125.93 $417.93 $15.00 $19.64 $25.91 $6.06 $47.08 093 $304.24 Alexander, D n/a n/a $4,050.00 n/a n/a $4,050.00 $725.46 $178.20 $ $81.23 $506.00 094 $2,559.11 Sierra, M n/a n/a $2,450.00 n/a n/a $2,450.00 $242.68 $120.00 $148.80 $34.80 $75.00 095 $1,828.72 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ Totals $7,912.00 $167.93 $8,079.93 $1,067.68 $375.94 $246.75 $138.94 $660.08 $5,590.54Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started