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## Problema Solution

Universal Exporting has three warehouse employees: John Abner earns \$422 per week, Anne Clark earns \$510 per week, and Todd Corbin earns \$625 per week. The company's SUTA tax rate is 5.4%, and the FUTA rate is 6.2% minus the SUTA. As usual, these taxes are paid on the first \$7,000 of each employee's earnings. How much FUTA tax did the company pay on these employees in the first quarter of the year?

## Answer provided by our tutors

Total FUTA Taxes = \$152.93

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John Abner = 13 weeks * \$422/week = \$5,486 * (6.2% - 5.4%) = \$43.89

Anne Clark = 13 weeks * \$510/week = \$6,630 * (6.2% - 5.4%) = \$53.04

Todd Corbin = 13 weeks * \$625/week = \$8,125 (taxes only subject to first \$7,000 so taxes based on \$7,000) * (6.2% - 5.4%) = \$56.00

Total = \$152.93

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