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PART 1 Mest Company has nine employees. FICA Social Security taxes are 6.2% of the first $128,400 paid to each employee, and FICA Medicare
PART 1 Mest Company has nine employees. FICA Social Security taxes are 6.2% of the first $128,400 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to each employee. Cumulative pay for the current year for each of its employees follows. Employee Ken S Tim V Steve S Required A Cumulative Pay $ 6,000 48,400 95,000 Employee Ken S Tim V Steve S Michelle W Michael M Zach R Lori K a. Compute the amounts in this table for each employee. b. For the company, compute each total for FICA Social Security taxes, FICA Medicare taxes, FUTA taxes, and SUTA taxes. Complete this question by entering your answers in the tabs below. John W Required B Compute the amounts in this table for each employee. Pay Subject Pay Subject to FICA Social to FICA Medicare Security Employee Michelle W Michael M Zach R Cumulative Pay Cumulative Pay $151,500 114,900 136,400 S 6,000 48.400 95,000 151.500 114.900 136.400 138.900 44.900 12.000 Employee Lori K Kitty O John W SE Cumulative Pay $138,908 44,999 12,000 Pay Subject to FUTA Taxes Pay Subject to SUTA Taxes Prev 1 of 1
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