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BMX Company has one employee. FiCA Social Security taxes are 62% of the first $137700 paid to its employee, and Fica Medicare taxes are 1.45%

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BMX Company has one employee. FiCA Social Security taxes are 62% of the first $137700 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 5.45 of the first $7,000 paid to its employee. Exercise 9-7 (Algo) Computing payroll taxes LO P2, P3 Compute BMX's amounts for each-of these four toxes as applied to the employee's gross eamings for September under each of tisice separate situations (a), (b), and (c). (Round your onswers to 2 decimal places.) BMX Company has one employee. FiCA Social Security taxes are 62% of the first $137700 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 5.45 of the first $7,000 paid to its employee. Exercise 9-7 (Algo) Computing payroll taxes LO P2, P3 Compute BMX's amounts for each-of these four toxes as applied to the employee's gross eamings for September under each of tisice separate situations (a), (b), and (c). (Round your onswers to 2 decimal places.)

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