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Compute the following for the week ended August 25. (Round your intermediate calculations and final answers to 2 decimal places.) : Paloma Co. has four

Compute the following for the week ended August 25. (Round your intermediate calculations and final answers to 2 decimal places.):

Paloma Co. has four employees. FICA Social Security taxes are 6.2% of the first $118,500 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. Also, for the first $7,000 paid to each employee, the companys FUTA taxes are 0.6% and SUTA taxes are 2.15%. The company is preparing its payroll calculations for the week ended August 25. Payroll records show the following information for the companys four employees.

Current Week
Name Gross Pay through Aug. 18 Gross Pay Income Tax Withholding
Dali $ 116,200 $ 4,400 $ 625
Trey 116,850 1,650 266
Kiesha 9,500 690 60
Chee 3,450 640 48

In addition to gross pay, the company must pay one-half of the $108 per employee weekly health insurance; each employee pays the remaining one-half. The company also contributes an extra 8% of each employees gross pay (at no cost to employees) to a pension fund.

Things that need to be calculated:

1. Employees' FICA Witholdings for Social Security

2. Employees' FICA Withholdings for Medicare

3. Employees' FICA Taxes for Social Security

4. Employees' FICA Taxes for Medicare

5. Employer's FUTA Taxes

6. Employer's SUTA Taxes

7. Each Employees's Net (take-home) Pay

8. Total Payroll Related Expense for Each Employee

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