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can you please help me with this im confused in how go do the tables. please show me how you got the answers. thank you!
can you please help me with this im confused in how go do the tables. please show me how you got the answers. thank you!
BMX Company has one employee. FICA Social Security taxes are 6.2% 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 5.4% of the first $7,000 paid to its employee Gross Pay through August 31 $5,000 2,500 131,900 Gross Pay for September $ 2,100 2,600 8,500 b. 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 (a (Round your answers to 2 decimal places.) Tax Rate Tax Amount September Earings Subject to Tax 2,100.00 Tax FICA-Social Security FICA-Medicare FUTA SUTA 130 20 30.45 2,100.00 6.20% s 1.45% 0.60% 5.40% b) Tax Tax Ratio Tax Amount FICA_Social Security September Earnings Subject to Tax $ 2.600.00 2.600.00 6 20% s 16120 FICA-Medicare 1.45% 3770 FUTA SUTA c) Tax September Earnings Subject to Tax Tax Rate Tax Amount FICA-Social Security FICA-Medicare FUTA SUTA Step by Step Solution
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