Solved: Goodson must pay suta tax at a rate of 54 and futa tax at a, Cost Accounting

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Goodson must pay suta tax at a rate of 54 and futa tax at a

B. F. Goodson employs Eduardo Gonzales at a salary of $46,000 a year. Goodson is subject to employer Social Security taxes at a rate of 6.2% and Medicare taxes at a rate of 1.45% on Gonzales's salary. In addition, Goodson must pay SUTA tax at a rate of 5.4% and FUTA tax at a rate of 0.8% on the first $7,000 of Gonzales's salary. Compute the total cost to Goodson of employing Gonzales for the year.

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Cost Accounting: Goodson must pay suta tax at a rate of 54 and futa tax at a

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Cost Accounting: Goodson must pay suta tax at a rate of 54 and futa tax at a

Reference No:- TGS0816814

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