question #5 Assume the FUTA tax rate is 0.6% and the SUTA tax rate is 5.4%. Both taxes are applied to the first $7,000 of an employee's pay. What is the total unemployment tax an employer must pay on an employee's annual wages of $40,000? 1. $2,400 2. $420 3. $42 4. $0, employers do not pay unemployment tax 5. $0, employee's wages exceed the $7,000 maximum

question #6 Assume the FUTA tax rate is 0.6% and the SUTA tax rate is 5.4%. Both taxes are applied to the first $7,000 of an employee's pay. What is the total unemployment tax an employee must pay on an their annual wages of $40,000? 1. $2,400 2. $420 3. $42 4. $0, employees do not pay unemployment tax 5. $0, their wages exceed the $7,000 maximum

question #7 A company sold 10,000 TVs in July and estimates warranty expense for these TVs to be $25,000. During July, 80 TVs were serviced under warranty at a cost of $18,000. The credit balance in the Estimated Warranty Liability account at July 1 was $26,000. What is the company's warranty expense for the month of July? 1. $51,000 2. $1,000 3. $25,000 4. $33,000 5. $18,000