Used for the FUTA tax rate for employers

Assignment Help Financial Accounting

Reference no: EM13755558

Note: For this textbook edition the rate 0.6% was used for the FUTA tax rate for employers.

During 2015, Jeff Smallwood worked for two different employers. Until May, he worked for Rowland Construction Company in Ames, Iowa, and earned $22,000. The state unemployment rate for Rowland is 4.6%. He then changed jobs and worked for Ford Improvement Company in Topeka, Kansas, and earned $29,500 for the rest of the year. The state unemployment rate for Ford is 5.1%. Determine the unemployment taxes (FUTA and SUTA) that would be paid by each company.

a. Rowland Construction Company

b. Ford Improvement Company

Reference no: EM13755558

Questions Cloud

Retail installer of tires : ZZ Tire Company started as retail installer of tires on cars 10 years ago. They now have 400 retail stores, installing about 10,000 tires per store per year and selling a total of 4 million tires. 5 years ago, they decided to start manufacturing thei..

Standard hours allowed for may production : Blue Corporation's standards call for 5,400 direct labor-hours to produce 1,800 units of product. During May 1,550 units were produced and the company worked 1,700 direct labor-hours. The standard hours allowed for May production would be:

Increases its selling price : Heely Company manufactures a product that sells for $50 per unit. Heely incurs a variable cost per unit of $35 and $2,400,000 in total fixed costs to produce this product. They are currently selling 200,000 units.

Compute the variable and fixed cost elements : Compute the variable and fixed cost elements using the high - low method.

Used for the FUTA tax rate for employers : During 2015, Jeff Smallwood worked for two different employers. Until May, he worked for Rowland Construction Company in Ames, Iowa, and earned $22,000.

Compute the maximum deductible contribution : Blaise is a partner in Sweet LLP, which maintains a profit-sharing Keogh plan for its partners and employees. Compute the maximum deductible contribution in each of the following situations: (for 2013 and 2014)

Evidence primarily passages from the work : The essay should be in MLA essay format (see the attached sample essay below) and should have a self-assessment (which should answer these questions) as the first page. A works cited entry and in-text citations for each text discussed are required.

Expand the equity capital and avoid high-risk debt : How can the company expand the equity capital and avoid high-risk debt in order to make up for the cash flow inadequacy using ESOP?

Minimum transfer price that the heating division : The Heating Division of KLM International produces a heating element that it sells to its customers for $45 per unit. Its variable cost per unit is $20, and its fixed cost per unit is $10. Top management of KLM International would like the Heating Di..

User Account

All Pages