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1 Problems Saved Holo Paloma Co has four employees. FICA Social Security taxes are 6.2% of the first $128,400 paid to each employee, and FICA

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1 Problems Saved Holo Paloma Co has four employees. FICA Social Security taxes are 6.2% of the first $128,400 paid to each employee, and FICA Medicare taxes are 145% 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 Gross Pay Income Tax Name through Aug. 18 Grons Pay Withholding Dall $124,700 $4,200 $ 483 126,400 2,000 346 8,500 1.400 2,450 1,800 SOM Trey Kietha Chee 51 41 In addition to gross pay, the company must pay one-half of the $88 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 fat no cost to employees) to a pension fund. Required: Compute the following for the week ended August 25. (Round your intermediate calculations and final answers to 2 decimal places.) 1) Employees' FICA Withholdings for Social Security Employee Earnings Subject to Tax Tax Rate Tax Amount Tax Rate Dali Trey Kiesha + Chee Total 2) Employees' FICA Withholdings for Medicare Employee Earnings Subject to Tax Tax Rate Tax Amount Tax Rate Dali Trey Kiesha Chee Total 3) Employer's FICA Taxes for Social Security 3) Employer's FICA Taxes for Social Security Employee Earnings Subject to Tax Tax Rate Tax Amount Tax Rate Dali Trey Kiesha + Chee Total 4) Employer's FICA Taxes for Medicare Employee Earnings Subject to Tax Tax Rate Tax Amount Tax Rate Dali Trey Klesha Chee Total 5) Employer's FUTA Taxes 5) Employer's FUTA Taxes Employee Earnings Subject to Tax Tax Rate Tax Amount Tax Rate Dali Trey Kiesha Chee Total 6) Employer's SUTA Taxes Employee Earnings Subject to Tax Tax Rate Tax Amount Tax Rate Dali Trey Klesha Chee Total 7) Each Employee's Net (take-home) Pay Dali Trey Kiesha Chee Total $ 2,000.00 $ 1,400.00 $ 1,800.00 $ 9,400.00 4,200.00 $ 483.00 346.00 51.00 41.00 Employee Gross Pay Income tax withholding FICA - Social Security FICA - Medicare Health Insurance 921.00 Net Pay + Chee Total 8) Employer's total payroll-related expense for each employee. Employee Dali Trey Kiesha Gross Pay $ 4,200.00 $ 2,000.00 $ 1,400.00 $ FICA - Social Security FICA - Medicare FUTA 1,800.00 $ 9,400.00 SUTA Health Insurance Pension Total Payroll Expense

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