What is the total amount of federal-state unemployment tax, Accounting Basics

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What is the total amount of federal-state unemployment tax

Preston Co., which has a taxable payroll of $700,000, is subject to FUTA tax of 6.2% and a state contribution rate of 5.4%. However, because of stable employment experience, the company's state rate has been reduced to 2%. What is the total amount of federal and state unemployment tax for Preston Co.?

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Accounting Basics: What is the total amount of federal-state unemployment tax

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Accounting Basics: What is the total amount of federal-state unemployment tax

Reference No:- TGS065457

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Recent Questions Asked Accounting Basics

Q : Total cost used to determine the price

Q : What price should the company charge

Q : Evidence concerning managements assertions

Q : Sale of an old factory building to another company

Q : What is the total amount of federal-state unemployment tax

Q : Variable cost and fixed cost

Q : Important auditing procedure

Q : Variable costs-labor and material

Q : How much total cost would be allocated

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What is the total amount of federal-state unemployment tax

Reference No:- TGS065457

Recent Questions Asked Accounting Basics

Q : Total cost used to determine the price

Q : What price should the company charge

Q : Evidence concerning managements assertions

Q : Sale of an old factory building to another company

Q : What is the total amount of federal-state unemployment tax

Q : Variable cost and fixed cost

Q : Important auditing procedure

Q : Variable costs-labor and material

Q : How much total cost would be allocated

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