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3 BMX Company has one employee. FICA Social Security taxes are 6.2% of the first 4 5 6 $137,700 paid to its employee, and
3 BMX Company has one employee. FICA Social Security taxes are 6.2% of the first 4 5 6 $137,700 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 5.4% of the first $7,000 paid to its employee. FICA-SS 7 8 a. 9 b. 0 c. 1 12 Required: Gross Pay through August 31 $6,400 2,000 131,400 Gross Pay for September $800 2,100 8,000 G H FICA Base FICA-Med 6.2% $137,700 1.45% FUTA 0.6% SUTA Unemp. Limit 5.4% $7,000 13 Compute BMX's amounts for each of these four taxes as applied to the employee's gross earnings for 14 September under each of three separate situations (a), (b), and (c). 15 16 (Use cells A2 to J10 from the given information to complete this question.. Enter the formula =0 in column B if no earnings are subject to tax.) 17
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