BMX Company has one employee. FICA Social Security taxes are $6\mathrm{.}2\%$ of the first $$137,700$ paid to its employee, and FICA Medicare taxes are $1\mathrm{.}45\%$ of gross pay. For BMX$,$ its FUTA taxes are $0\mathrm{.}6\%$ and SUTA taxes are $5\mathrm{.}4\%$ of the first $$7,000$ paid to its employee.

Gross Pay through August $31$ Gross Pay for September

a$.$ $ $5,400$ $ $2,400$

b$.2,9003,000$

c$.132,3008,900$

Exercise $9-7($Algo$)$ Computing payroll taxes LO P$2,$ P$3$

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$).$BMX Company has one employee. FICA Social Security taxes are $6\mathrm{.}2\%$ of the first $$137,700$ paid to its employee, and FICA Medicare taxes are $1\mathrm{.}45\%$ of gross pay. For BMX$,$ its FUTA taxes are $0\mathrm{.}6\%$ and SUTA taxes are $5\mathrm{.}4\%$ of the first $$7,000$ paid to its employee.

Gross Pay through August $31$ Gross Pay for September

a$.$ $ $5,400$ $ $2,400$

b$.2,9003,000$

c$.132,3008,900$

Exercise $9-7($Algo$)$ Computing payroll taxes LO P$2,$ P$3$

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$).$