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Complete this question please Exercise 9-6 Computing payroll taxes LO P2, P3 BMX Company has one employee. FICA Social Security taxes are 6.20% of the
Complete this question please
Exercise 9-6 Computing payroll taxes LO P2, P3 BMX Company has one employee. FICA Social Security taxes are 6.20% of the first S100.800 paid to its employee, and CA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.80% and SUTA taxes are 2.90% of the first S7,000 paid to its employee. Gross Pay for September 2,000 5.800 17.400 3,200 103,000 11,400 Compute BMX's amounts for each of the above four taxes as applied to the employee's gross earnings for September under situation (a), (b), and (c). (R und your answers to 2 decimal places September earnings Tax Amount Tax Rate subject to 124.00 FICA-Social Security S 2,000.00 6.20% S 2,000.00 1.45% 29.00 FICA Medicare FUTA 0.80% SUTA 2.50% September earnings 6.20% S 3,200.00 FICA-Social Security S 198.40 4e 40 FICA Medicare 1.45% 3.200.00 A 0.00 SUTA 000 September earnings Tax Amount Tax Rate ject to FICA-Social Security FICA-Medicare FUTA 0.00 000 SUTA Exercise 9-6 Computing payroll taxes LO P2, P3 BMX Company has one employee. FICA Social Security taxes are 6.20% of the first S100.800 paid to its employee, and CA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.80% and SUTA taxes are 2.90% of the first S7,000 paid to its employee. Gross Pay for September 2,000 5.800 17.400 3,200 103,000 11,400 Compute BMX's amounts for each of the above four taxes as applied to the employee's gross earnings for September under situation (a), (b), and (c). (R und your answers to 2 decimal places September earnings Tax Amount Tax Rate subject to 124.00 FICA-Social Security S 2,000.00 6.20% S 2,000.00 1.45% 29.00 FICA Medicare FUTA 0.80% SUTA 2.50% September earnings 6.20% S 3,200.00 FICA-Social Security S 198.40 4e 40 FICA Medicare 1.45% 3.200.00 A 0.00 SUTA 000 September earnings Tax Amount Tax Rate ject to FICA-Social Security FICA-Medicare FUTA 0.00 000 SUTAStep by Step Solution
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