Determine the Taxable Earnings Subject to FUTA Tax

For each of the described pay periods, determine the taxable earnings subject to FUTA tax: NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation.

1: A business employs three individuals, whose taxable earnings to date (prior to the current pay period) are $12,200, $5,250 and $3,000. During the current pay period, these employees earn $2,500, $2,160 and $1,130, respectively. Taxable earnings subject to FUTA tax = $