Exercise 11-11 (Algo) Computing payroll taxes LO P2, P3 Mest Company has nine employees. FICA Social Security taxes are 6.2% of the first $137,700 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 5 Tim v Steve S Cumulative Pay $ 5,400 45,400 92,000 Employee Julie W Michael M Zach R Cumulative Pay $ 148,500 111,900 137,700 Employee Christina s Kitty o John W Cumulative Pay $ 141,200 41,900 5,500 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. Hint. Remember to include in those totals any employee share of taxes that the company must collect. Complete this question by entering your answers in the tabs below. Required A Required B Compute the amounts in this table for each employee. Pay Subject to Pay Subject FICA Social to FICA Security Medicare Pay Subject to FUTA Taxes Pay Subject to SUTA Taxes Employee Ken S Tim V Steve S Julie W Cumulative Pay $ 5,400 45,400 92,000 148,500 111,900 137,700 141,200 41,900 5,500 $ 729,500 Michael M Zach R Christina S Kitty O John W Totals Required A Required B For the company, compute each total for FICA Social Security taxes, FICA Medicare taxes, FUTA taxes, and SUTA taxes. Hint: Remember to include in those totals any employee share of taxes that the company must collect. (Round your final answers to 2 decimal places.) Tax Paid by Employee Tax Paid by Employer Total Tax FICA Social Security taxes FICA Medicare taxes FUTA taxes SUTA taxes