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In the following problems, use the net FUTA tax rate of 0.6% on the first $7,000 of taxable wages. Stys Companys payroll for the year

In the following problems, use the net FUTA tax rate of 0.6% on the first $7,000 of taxable wages. Stys Companys payroll for the year is $1,210,930. Of this amount, $510,710 is for wages paid in excess of $7,000 to each individual employee. The SUTA tax rate for the company is 3.2% on the first $7,000 of each employees earnings.

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