http://v2 /takeAssig gageNOW/v2 I O Chegg Ed Help B ow to Save Money 8 wa... e C
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http://v2 /takeAssig gageNOW/v2 I O Chegg Ed Help B ow to Save Money 8 wa... e Cengage B My Home R My Lab & Mastering Pear... Younique by Courtney S Gastric sleeve weight L u West K ky C If welcome to Facebook L... G Google Chapter 5 Homework Book Calculato Print lite 13 RQ 05.12 1. Carry the hourly rate and the overtime rate to 3 decimal places and then round off to 2 decimal places (round the hourly rate to 2 decimal places before multiplying by one and one-half to determine the over 14, RQ 05.13 hird d d to th xt high 15.RQ 05.14 hird d ply drop th third d 16, RQ 05.15 Examples: Monthly rate $1,827 Weekly rate ($1,827 x 12)/52 $421 to $421.62 17. RQ 05.16 te $421.62/40 3$10.540 ded $10.54 O.T. te $10.54 x 1.5 $15.81 18, RQ. 05.17 hourly $7.25 probl 19. RQ 05.18 Employee HI: Plus an additional 0.9% on wages over $200,000. Also applicable to self-employed. 20. RQ 05.19 hang d of d th ch d chang the FUTA te, the ble 2015 ed for FUTA d SUTA SUTA 21. RQ 05.20 Note: For this textbook edition the rate 0.6% was used for the FUTA tax rate for employers 22. PR.05.01A. Algo Example 5 23. PR 05.04A. Algo Yeldon Company has a $70,000 federal and state taxable payroll and has earned a reduced state tax rate of 4 percent. If none of its state tax 24. PR.05.06A. Algo payments are timely, the FUTA tax calculation is as follows: 25. PR.05.09A.Algo Gross FUTA tax $70,000 x 0.060 $4,200 26. PR.05.10A.Algo Check My Work Previous Progress: 26/26 items Email instructor Save and Exit Submit Assignment for Grading ssignment S 80.73% 4:01 PMExplanation / Answer
Answer: a
$114,000 × 0.031 × 90%.................................................... $3,180.60
$114,000 × 0.023 (additional credit to 5.4%)..................... 2,622.00
Total FUTA tax credit.......................................................... $5,802.60
Answer: (b)
$114,000 × 0.062................................................................ $7,068.00
Less: Credit against tax [see (a) above]............................. (5,802.60)
Net FUTA tax...................................................................... $1,265.40
Answer: (c)
Net FUTA tax...................................................................... $1,265.40
FUTA tax without penalty: $114,000 × 0.008..................... 912.00 Penalty................................................................................ $ 353.40
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