Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. in september 2019, manson paint corporation began

In September 2019, Manson Paint Corporation began operations in a state that requires new employers of...

60.1K

Verified Solution

Question

Accounting

In September 2019, Manson Paint Corporation began operations ina state that requires new employers of one or more individuals topay a state unemployment tax of 3.5% of the first $7,000 of wagespaid each employee.

An analysis of the company's payroll for the year shows totalwages paid of $177,610. The salaries of the president and the vicepresident of the company were $20,000 and $15,000, respectively,for the four-month period, but there were no other employees whoreceived wages in excess of $7,000 for the four months. Included inthe total wages were $900 paid to a director who only attendeddirector meetings during the year, $6,300 paid to the factorysuperintendent, and $2,000 in employee contributions to a cafeteriaplan made on a pretax basis-for both federal and state.

In addition to the total wages of $177,610, a payment of $2,430was made to Andersen Accounting Company for an audit it performedon the company's books in December 2019. Compute the following;round your answers to the nearest cent.

a. Net FUTA tax$
b. SUTA tax$

Answer & Explanation Solved by verified expert
4.1 Ratings (538 Votes)
    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Using standard deviation and variance, what if we wanted to compare the variation in body lengths...

Statistics
Q

Determine the 80​% confidence interval estimate for the population mean of a normal distribution given n=100​, σ=101​,...

Statistics
Q

Why is it important to understand one's self-concept in order to learn about communication?

Psychology
Q

A company manufactures Products A, B, and C. Each product is processed in three departments: I,...

Advance Math
Q

40 A mass m is suspended by means of two coiled springs which have the...

Physics
Q

A fixed sphere of radius R and uniform mass density d has a cavity of...

Physics
Q

Treatment B c Now consider the summary data for the women who participated in the...

Statistics
Q

If f x 8x 3 and g x a f g x b g x...

Algebra
Q

Clifton Corporation acquired all of the outstanding Gillion stock on January 1, Year 1, for...

Accounting
Q

In 2025, Crane Construction Corp. began construction work under a 5-year contract. The contract price...

Accounting
Q

Easy Incorporated uses the FIFO method in its process costing system. The following data concern...

Accounting
Q

adjusted gross income easy question help asap

Accounting