Based on the payroll information for Romac Electric that follows:

Question

Total gross earnings: $2,462.00
Social Security tax rate: 6.2%
Medicare tax rate 1.45%
State unemployment tax rate 5.4%
Federal unemployment tax rate 0.8%
Find the State Unemployment Tax Payable

Answer 1

To find the State Unemployment Tax Payable, we need to multiply the total gross earnings by the state unemployment tax rate.

State Unemployment Tax Payable = Total gross earnings * State unemployment tax rate
State Unemployment Tax Payable = $2,462.00 * 0.054

Calculating the State Unemployment Tax Payable:
State Unemployment Tax Payable = $132.97

The State Unemployment Tax Payable for Romac Electric is $132.97.