1) SUTA rate for Westcoast Publishers is 5.4% and the FUTA rate is 6.2% less 5.4% SUTA credit. If biweekly payroll was $32,806 for 47 employees and none was for payments to employees in excess of $7,000 wage base, then find total FUTA and SUTA taxes for payroll?
i. $1,476.27
ii. $2,989.96
iii. $1,524.90
iv. $2,033.97
2) Cross receives the monthly paycheck from the bakery plant of $3,500.30. She is married and is entitled to three withholding allowances. How much is the taxable income?
i. $3,500.30
ii. $917.35
iii. $2452.31
iv. $2,725.31
3) Assume that you took out the loan at 12% interest for 200 days. If amount of interest was $690.41, use exact interest method to determine amount of principal you borrowed.
i. $10,500
ii. $45
iii. $10,356
iv. $4,540
4) Widgets Inc., received the invoice from the supplier for raw materials which had the list price of $12,600.00. Supplier offered a series discount of 30/20/10 and terms of 2/10, N/30 R.O.G. and FOB shipping point. Supplier pre-paid freight of $350.00. Invoice was dated June 10 and goods were received on June 30. If Widgets remitted full payment on July 10, determine the amount they paid?
i. $6,573.39
ii. $5,880.39
iii. $6,223.39
iv. $6,566.39