Instruction 5-1 Use the Net FUTA Tax Rate of 0.6% on the on the First

question 45

Essay

Instruction 5-1
Use the net FUTA tax rate of 0.6% on the first $7,000 of taxable wages.
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-Refer to Instruction 5-1.Michael Mirer worked for Dawson Company for six months this year and earned $11,200.The other six months he earned $6,900 working for McBride Company (a separate company).The amount of FUTA taxes to be paid on Mirer's wages by the two companies is:
a)Dawson Company __________.
b)McBride Company __________.

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Definitions:

Materials Ledger Card

A record-keeping document used in inventory management that tracks the quantities, costs, and transactions related to a particular inventory item.