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2. Required Information [The following information applies to the questions displayed below) BMX Company has one employee, FICA Social Security taxes are 6.2% of the
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Required Information [The following information applies to the questions displayed below) BMX Company has one employee, FICA Social Security taxes are 6.2% of the first $118,500 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay: For BMX, Its FUTA taxes are 0.6% and SUTA taxes are 2.9% of the first $7.000 pald to its employee Gross Pay through August $ 6,500 18,600 112,60 Gross Pay for September $ 700 2,500 8,400 Compute BMX's amounts for each of these four taxes as applied to the employee's gross earnings for September under each of three separate situations (a), (b), and (c)(Round your answers to 2 decimal places.) Required Information [The following information applies to the questions displayed below) BMX Company has one employee. FICA Social Security taxes are 6.2% of the first Medicare taxes are 1.45% of gross pay. For BMX, ITS FUTA taxes are 0.6% and SUT to its employee. Gross Pay through August $ 6, see 18,680 112,600 Gross Pay for September $ 780 2,5ee 8,4ee for each of these four taxes as appiled to the employee's gross separate situations (a), (b), and (c). (Round your answers to 2 de September Earnings Subject to Tax Tax Rate Tax Amount FICASocial Security FICAMedicare FUTA SUTA September Earnings Subject to Tax Tax Rate Tax Amount FICA-Social Security FICA-Medicare FUTA SUTA September Earnings Subject to Tax Tax Rate Tax Amount FICA-Social Security FICA Medicar FUTA SUTA Step by Step Solution
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