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The employees of Pelter Company earn wages of $16,100 for the two weeks ending April...

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Accounting

The employees of Pelter Company earn wages of $16,100 for the two weeks ending April 12. FIT taxes of $480 were withheld. The entire amount of wages is subject to the FICA taxes, but only $13,400 is taxable under the federal and state unemployment compensation laws. The state contribution rate of the employer is 2.9%. All employees are subject to state unemployment contributions of 0.5% on the April 12 taxable wages of $13,400, and the employees' contributions are to be deducted by the employer.

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