The Last Semimonthly Payroll of Available Temp Services Was $135,600

question 103

Multiple Choice

The last semimonthly payroll of Available Temp Services was $135,600.00 of gross wages for 113 employees. Of the total, none was for payments to employees in excess of the $7,000.00 wage base. What were the total FUTA and SUTA taxes for the payroll? The company's SUTA rate is 5.4% and its FUTA rate is 6.0% less the 5.4% SUTA credit.

• A) $8,136.00
• B) $15,729.60
• C) $7,322.40
• D) $9,492.00

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Definitions:

Repackage

To change the packaging of a product, potentially to refresh the brand image, improve functionality, or target a different consumer segment.

FDIC

The Federal Deposit Insurance Corporation, a United States government corporation providing deposit insurance to depositors in U.S. commercial banks and savings institutions.

Bank Panics

Situations where many bank clients simultaneously take out their funds because they're afraid the bank might go bankrupt.

Federal Government

The central government of a federated country, such as the United States, which shares power with constituent states or provinces.