An appliance company has three installers. Larry earns $335 per week, Curly earns $420 per week,...

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An appliance company has three installers. Larry earns $335 per week, Curly earns $420 per week, and Moe earns $545 per week. The company's SUTA rate is 5.4%, and the FUTA rate is 6.0% minus the SUTA. As usual, these taxes are paid on the first $7,000 of each employee's earnings. (a) How much SUTA and FUTA tax (in $) does the company owe for the first quarter of the year? total SUTA tax $912.60 X total FUTA tax $101.28 X (b) How much SUTA and FUTA tax (in $) does the company owe for the second quarter of the year? total SUTA tax $227.07 total FUTA tax $25.23 XX Suppose you are the human resource manager for a cellular phone company with 700 employees. Top management has asked you to implement three additional fringe benefits that were negotiated with employee representatives and agreed upon by a majority of the employees. These include group term life insurance, a group legal services plan, and a wellness center. The life insurance is estimated to cost $390 per employee per quarter. The legal plan will cost $364 semiannually per employee. The company will contribute 40% to the life insurance premium and 75% to the cost of the legal services plan. The employees will pay the balance through payroll deductions from their biweekly paychecks. In addition, they will be charged 1% of their gross earnings per paycheck for maintaining the wellness center. The company will pay the initial cost of 4 $600,000 to build the center. This expense will be spread over 5 years. (a) What total amount should be deducted per paycheck for these new fringe benefits for an employee earning $83,200 per year? $ 51 (b) What is the total annual cost of the new fringe benefits to the company? $ 964600 X An appliance company has three installers. Larry earns $335 per week, Curly earns $420 per week, and Moe earns $545 per week. The company's SUTA rate is 5.4%, and the FUTA rate is 6.0% minus the SUTA. As usual, these taxes are paid on the first $7,000 of each employee's earnings. (a) How much SUTA and FUTA tax (in $) does the company owe for the first quarter of the year? total SUTA tax $912.60 X total FUTA tax $101.28 X (b) How much SUTA and FUTA tax (in $) does the company owe for the second quarter of the year? total SUTA tax $227.07 total FUTA tax $25.23 XX Suppose you are the human resource manager for a cellular phone company with 700 employees. Top management has asked you to implement three additional fringe benefits that were negotiated with employee representatives and agreed upon by a majority of the employees. These include group term life insurance, a group legal services plan, and a wellness center. The life insurance is estimated to cost $390 per employee per quarter. The legal plan will cost $364 semiannually per employee. The company will contribute 40% to the life insurance premium and 75% to the cost of the legal services plan. The employees will pay the balance through payroll deductions from their biweekly paychecks. In addition, they will be charged 1% of their gross earnings per paycheck for maintaining the wellness center. The company will pay the initial cost of 4 $600,000 to build the center. This expense will be spread over 5 years. (a) What total amount should be deducted per paycheck for these new fringe benefits for an employee earning $83,200 per year? $ 51 (b) What is the total annual cost of the new fringe benefits to the company? $ 964600 X

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Appliance Company Taxes a First Quarter Taxes SUTA Larry335week 13 weeks 4345 Curly420week 13 weeks ... View the full answer