Exercise 9-9 Computing payroll taxes LO P2, P3

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	Cumulative Pay		Employee	Cumulative Pay		Employee	Cumulative Pay
Ken S	$	6,000	Michelle W	$	151,500	Lori K	$	138,900
Tim V		48,400	Michael M		114,900	Kitty O		44,900
Steve S		95,000	Zach R		136,400	John W		12,000

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.