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7 March, 21:49

Westway Company pays Suzie Chan $3,000 per week. By the end of week 52, how much did Westway deduct for Suzie's Social Security and Medicare for the year? Assume Social Security is 6.2% on $128,400 and 1.45% for Medicare. What state and federal unemployment taxes does Westway pay on Suzie's yearly salary? The state unemployment rate is 5.1%. FUTA is. 6%.

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  1. 7 March, 23:48
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    Suzie Chan earns $3,000 per week for 52weeks = $3,000 * 52 = $152,000.

    Social Security is 6.2% on $128,400 = $7,960.8

    1.45% for Medicare = $152,000 * 1.45% = $2,204

    The state unemployment rate is 5.1%. FUTA is 6% (note: missing on the first $7,000)

    $7,000 * 5.1% = $375

    $7,000 * 6% = $420
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