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BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $137700 paid to ats employee, and FICA Medicare taxes are 1.45%

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BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $137700 paid to ats 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 57.000 paid to its employee. Exercise 11-8 (Static) Payroll-related journal entries LO P2 Assuming sifuation ( , prepare the employer's September 30 journal entry to record salary expense and its related payroll habaties for this employee. The employee's federal income taxes witheld by the employer are sso for this psy period. Canplete this question ty entering your answers in the tabs below. The employee' federal income taxes withbeld by the employer are stoo for this pay peried. Assuming situation (a), compute. the taxen to be withheid from gross pay for this employee. (found your answars to 2 decimal placeci)

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