Exercise 9-11 (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. Cumulative Pay $ 6,400 50,400 97,000 Employee Ken S Tim V Employee Julie W Michael M Cumulative Pay Steve S Zach R $ 153,500 116,900 137,700 Employee Christina S Kitty O John W Cumulative Pay $ 142,200 46,900 6,800 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. Compute the amounts in this table for each employee.. Employee Cumulative Pay Pay Subject to FICA Social Pay Subject to Pay Subject to Pay Subject to FICA Medicare FUTA Taxes SUTA Taxes Security Ken S $ 6,400 $ 6,400 $ 6,400 $ 6,400 $ 6,400 Tim V 50,400 Steve S 97,000 Julie W 153,500 Michael M 116,900 Zach R 137,700 Christina S 142,200 Kitty O 46,900 John W 6,800 Totals $ 757,800 $ 6,400 $ 6,400 $ 6,400 $ 6,400 For the company, compute each total for FICA Social Security taxes, FICA Medicare taxes, FUTA taxes, an Remember to include in those totals any employee share of taxes that the company must collect. (Round to 2 decimal places.) FICA Social Security taxes FICA Medicare taxes FUTA taxes SUTA taxes Tax Paid by Employee Tax Paid by Employer Total Tax