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In: Accounting

Prior to December 4, the Fairhaven Corporation's two employees had the following gross pay: Kevin $58,500...

Prior to December 4, the Fairhaven Corporation's two employees had the following gross pay: Kevin $58,500 and Linda $6,600. During the week ended December 10, Kevin earned $2,500 and Linda $800. The Corporation's federal unemployment tax rate is .8% of the first $7,000 earned by each employee and the state unemployment tax rate is 5% of the first $7,000 earned by each employee.
Calculate the Corporation's total unemployment payroll taxes for the week ended December 10.
a. $191.40
b. $23.20
c. $812.00
d. $46.40

Solutions

Expert Solution

Kevin:
Federal unemployment tax $                    -  
State unemployment tax $                    -  
Total for Kevin $                    -  
Linda:
Federal unemployment tax =(7000-6600)*0.8% = $               3.20
State unemployment tax = (7000-6600)*5% = $             20.00
Total for Kevin $             23.20
Total for the corporation $             23.20 Option [b]

ekkarill92 answered 3 years ago
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