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Information from the payroll register of Cool Company for the week ended April 21, 20-- is shown in the table below. The SUTA rate is
Information from the payroll register of Cool Company for the week ended April 21, 20-- is shown in the table below. The SUTA rate is 5.4% and the FUTA rate is 0.8%both on the first $7,000 of earnings. Social Security is 6.2% of the first $106,800 of earnings. Medicare IS 1.45% of gross earnings , , a. Complete the last 2 columns on the table Taxable Earnings Taxable Employee Name Current Weekly Earnings Cumulative Pay before UnemploymenEarnings Social Current Earnings Securi L. Smith K. Jones T.Lawye B.Richards C. Sooner 104,000$ 6,000$ 6,900$ 89,200 S 108,700$ 3,500 1,600 2,600 5,900 4,000 17,600 Totals b. Calculate the payroll taxes for the week P1 | P2 | P3 | P4 |
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