Morris Leste, owner of Carlson Company, has three employees who earn $400, $500,

Question

Morris Leste, owner of Carlson Company, has three employees who earn $400, $500, and $700 per week. What are the total state and federal unemployment taxes that Morris owes for the first 11 weeks of the year and for week 30? Assume a state rate of 5.6% and a federal rate of 0.8%. (Leave no cells blank - be certain to enter "0" wherever required. Round your answers to 2 decimal places. Omit the "$" sign in your response.)

Morris Leste, owner of Carlson Company, has three employees who earn $400, $500, and $700 per week. What are the total state and federal unemployment taxes that Morris owes for the first 11 weeks of the year and for week 30? Assume a state rate of 5.6% and a federal rate of 0.8%. (Leave no cells blank - be certain to enter "0" wherever required. Round your answers to 2 decimal places. Omit the "$" sign in your response.)

Explanation / Answer

1. State taxes owed for 11 week =400+500+700=1600*11=17600

Tax=17600*5.6%=985.6

2 .Federal Tax=17600*0.8%=140.8

3. Taxes for 30 week=1600*30=48000

state tax=48000*5.6%=2688

Federal tax=48000*0.8%=384

Total tax=3072

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