Narrative 9-2
Use the information below to solve the following problems:
$$\begin{array} { l l l }
& \text { Tax Rate } & \text { Wage Base } \
\text { Social security } & 6.2 \% & \$ 128,400 \
\text { Medicare } & 1.45 \% & \text { no limit } \
\text { FUTA } & .6 \% & \$ 7,000 \
\text { SUTA } & 5.4 \% & \$ 7,000
\end{array}$$
-Refer to Narrative in your text 9-2. The SUTA rate for Montego Corporation is 5.4% and its FUTA rate is 6.0% less the 5.4% SUTA credit; .6%. If its monthly payroll is $153,720.00 and none was for payments to employees in excess of the $7,000.00 wage base, then what are the total FUTA and SUTA taxes for the payroll?

Question

Narrative 9-2
Use the information below to solve the following problems:
$$\begin{array} { l l l } 
& \text { Tax Rate } & \text { Wage Base } \
\text { Social security } & 6.2 \% & \$ 128,400 \
\text { Medicare } & 1.45 \% & \text { no limit } \
\text { FUTA } & .6 \% & \$ 7,000 \
\text { SUTA } & 5.4 \% & \$ 7,000
\end{array}$$
-Refer to Narrative in your text 9-2. The SUTA rate for Montego Corporation is 5.4% and its FUTA rate is 6.0% less the 5.4% SUTA credit; .6%. If its monthly payroll is $153,720.00 and none was for payments to employees in excess of the $7,000.00 wage base, then what are the total FUTA and SUTA taxes for the payroll?

Quizplus · Accepted Answer

The Answer of Narrative 9-2
Use the information below to solve the following problems:
$$\begin{array} { l l l } 
& \text { Tax Rate } & \text { Wage Base } \
\text { Social security } & 6.2 \% & \$ 128,400 \
\text { Medicare } & 1.45 \% & \text { no limit } \
\text { FUTA } & .6 \% & \$ 7,000 \
\text { SUTA } & 5.4 \% & \$ 7,000
\end{array}$$
-Refer to Narrative in your text 9-2. The SUTA rate for Montego Corporation is 5.4% and its FUTA rate is 6.0% less the 5.4% SUTA credit; .6%. If its monthly payroll is $153,720.00 and none was for payments to employees in excess of the $7,000.00 wage base, then what are the total FUTA and SUTA taxes for the payroll?

Narrative 9-2 Use the Information Below to Solve the Following

Narrative 9-2
Use the Information Below to Solve the Following