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1) Employees' FICA Withholdings for Social Security Employee Paloma Company has four employees. FICA Social Security taxes are 6.2% of the first $137,700 paid

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1) Employees' FICA Withholdings for Social Security Employee Paloma Company has four employees. FICA Social Security taxes are 6.2% of the first $137,700 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. Also, for the first $7,000 paid to each employee, the company's FUTA taxes are 0.6% and SUTA taxes are 5.4%. The company is preparing its payroll calculations for the week ended August 25. Payroll records show the following information for the company's four employees. Current Week Tax Rate Dali Trey Kiesha Chee Name Dali Trey Kiesha Chee Gross Pay through August 18 $ 125,400 135,300 7,800 1,750 Gross Pay $ 5,600 2,400 1,600 2,000 Income Tax Withholding $ 383 403 45 35 In addition to gross pay, the company must pay one-half of the $74 per employee weekly health insurance; each employee pays the remaining one-half. The company also contributes an extra 8% of each employee's gross pay (at no cost to employees) to a pension fund. Required: Compute the following for the week ended August 25. Note: Round your intermediate calculations and final answers to 2 decimal places. 3) Employer's FICA Taxes for Social Security Employee Tax Rate Dali Trey Kiesha Chee Earnings Subject to Tax Tax Rate Tax Amount 4) Employer's FICA Taxes for Medicare Employee Tax Rate Dalil Trey Kiesha Chee Earnings Subject to Tax Tax Rate Tax Amount 2) Employees' FICA Withholdings for Medicare Employee Tax Rate Dali Trey Kiesha Chee Total $ 0.00 Earnings Subject to Tax Tax Rate Tax Amount Total $ 0.00 5) Employer's FUTA Taxes Earnings Employee Subject to Tax Tax Rate Tax Amount 7) Each Employee's Net (take-home) Pay Employee Dali Trey Kiesha Chee Total Gross Pay $ Tax Rate Dali Trey Kiesha Income tax withholding 403.00 5,600.00 $ 2,400.00 $ 1,600.00 $ 2,000.00 $ 11,600.00 383.00 45.00 35.00 866.00 FICA-Social Security 0.00 FICA Medicare 0.00 Total $ 0.00 Health Insurance Net Pay 0.00 $ 0.00 Chee Total $ 0.00 Earnings Subject to Tax Tax Rate Tax Amount Total $ 0.00 6) Employer's SUTA Taxes Employee Tax Rate Dali Trey Kiesha Chee 8) Employer's Total Payroll-Related Expense for Each Employee. Employee Dali Earnings Tax Rate Tax Amount Subject to Tax Gross Pay S Trey 5,600.00 $ 2,400.00 $ Kiesha Chee Total 1,600.00 $ 2,000.00 $ 11,600.00 FICA-Social Security 0.00 0.00 0.00 0.00 0.00 FICA - Medicare 0.00 0.00 0.00 0.00 0.00 FUTA 0.00 0.00 0.00 0.00 0.00 SUTA 0.00 0.00 0.00 0.00 0.00 Health Insurance 0.00 Total $ 0.00 Pension 0.00 Total Payroll Expense $ 5,600.00 $ 2,400.00 $ 1.600.00 $ 2,000,00 $ 11,600.00

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