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BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $127,200 paid to its employee, and FICA Medicare taxes are 1.45%

BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $127,200 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 3.1% and SUTA taxes are 2.9% of the first $7,000 paid to its employee.

Gross Pay through August 31

Gross Pay for September

a.

$

5,200

$

2,400

b.

2,500

2,800

c.

119,600

8,700

Compute BMXs amounts for each of these four taxes as applied to the employees gross earnings for September under each of three separate situations (a), (b), and (c). (Round your answers to 2 decimal places. Leave no cells blank.)

a)

Tax

September Earnings Subject to Tax

Tax Rate

Tax Amount

FICASocial Security

$2,400.00

FICAMedicare

FUTA

SUTA

b)

Tax

September Earnings Subject to Tax

Tax Rate

Tax Amount

FICASocial Security

FICAMedicare

FUTA

SUTA

c)

Tax

September Earnings Subject to Tax

Tax Rate

Tax Amount

FICASocial Security

FICAMedicare

FUTA

SUTA

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