In the following problems, use the net FUTA tax rate of 0.8% on the first $7,000 of taxable wages. SUTA will be paid on the first 8,500 for ER with no limit for the EE.

Niemann Company has a SUTA tax rate for the ER is 7.1% and .03% for the EE. The taxable payroll for the year for FUTA and SUTA is $82,600. Assume that the total payroll for the year is also $82,600.

1. The amount of FUTA tax for the year is (Points : 3)

$660.80 $5,864.60 $5,121.20 $4,460.40

2. The amount of SUTA tax for the ER for the year is (Points : 3)

$660.80 $5,121.20 $5,864.60 $4,460.40

3. The amount of SUTA tax deducted from the EE wages would be: (Points : 3)

$58.65 $33.04 $24.78 $66.08

4. The amount of FUTA tax before the credit is: (Points : 3)

$5,121.20 $4,460.40 $527.00 $459.00

5. The amount of the FUTA tax credit would be: (Points : 3)

$5,121.20 $660.80 $527.00 $4,460.40