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Posted on Sep 17, 2024

Help Save & Fit Paloma Co. has four employees. FICA Social Security taxes are 62% of the first $128,400 paid to each employee, and RCA

Help Save & Fit Paloma Co. has four employees. FICA Social Security taxes are 62% of the first $128,400 paid to each employee, and RCA Medicare taxes are 145% of gross pay. Also, for the first $7.000 paid to each employee, the company's FUTA taxes are 0.6% and SUTA taxes are 5.4%. The company is preparing its payroll calculations for the week ended August 25. Payroll records show the following information for the company's four employees Nane Dati Trey Kiesha Gross Pay through Aug. 18 $124,700 126,420 8,500 Current Week Income Tax Gross Pay Withholding 54,200 $ 483 2,000 346 1.400 51 41 In addition to gross pay the company must pay one half of the $88 per employee weekly health insurance, each employee pays the remaining one halt. The company also contributes an extra 8% of each employee's gross payat no cost to employees to a pension fund Required: Compute the following for the week ended August 25. Round your intermediate calculations and final answers to 2 decimal places Employees' RICA Wholdings for Social Security Employee Earnings Subject to Tax Tax Rate Tax Rate Das Tax Amount Trey Kesha Chee Tas 0.00 Employees' FICA Wholdings for Medicare 105 Next > . 3 s 4 2 5 6 7 8 9 0 W E R T > U 1 o S D F G H J K Q $ 1 2 % 5 3 6 7 8 9 O Q W E R T Y o U S D F G H. J L N X C V B N M 3 command command Employee Earnings Subject to Tax Tax Amount Tax Rate Da Trey Kesha Chee Total $ 0.00 Employer's SUTAT Employee Earnings Subject to Tax Tax Rate Tax Amount Tax Rate D Trey Totals 0.00 Chee Total Ti Each Employee's Not take homel Pay Employee Cross Pay 5 4.200.00 Income tax withholding 43300 PICA- Social Security FICA Medicare Trey Kesha 2.000005 346.00 55.00 1.800.00 $ 9.400.00 521.00 0.00 0.00 0.00 2 3 5 4 $ 5 & 7 6 8 9 0 W E R T > U 0 P S D F G H J K L x C V 00 N. M H 98 mand Command Dotion ey Help Save Kesha Chee Total $ 0.00 Chee Total 7) Each Employee's Net (take home Pay Employee Dall Gross Pay $ 4,200.00 $ Income tax withholding 100 FICA-Social Security FICA. Medicare Health Insurance Trey Kesha 2,000.00 $ 1.400.00 345.00 5100 1.800.00 $ 9.400.00 921.00 0.00 0.00 0.00 $ 0.00 3) Employer's total payroll-related expense for each employee Employee Dalil Trey Kesha Gross Pay $ 4,200.00 2.000005 1,400.00 $ FICA. Social Security 0.00 000 000 FICA-Medicare 0.00 0.00 0.00 FUTA 000 000 0.00 0.00 0.00 0.00 Heathinance Pension Total Payroll Expense $ 4,200.00 5 2.000.00 1.400.00 Chee Total 1,800.00 400.00 0.00 0.00 0.00 0.00 000 0.00 0.00 0.00 0.00 0.00 1.800.00 9.400.00 SUTA Prev 1 of 5 Next > Q & 7 2 3 5 6 8 9 0 Q w E R T Y 1 C S D F G H. J K > N C V 00 N. M Command command Help Save & Fit Paloma Co. has four employees. FICA Social Security taxes are 62% of the first $128,400 paid to each employee, and RCA Medicare taxes are 145% of gross pay. Also, for the first $7.000 paid to each employee, the company's FUTA taxes are 0.6% and SUTA taxes are 5.4%. The company is preparing its payroll calculations for the week ended August 25. Payroll records show the following information for the company's four employees Nane Dati Trey Kiesha Gross Pay through Aug. 18 $124,700 126,420 8,500 Current Week Income Tax Gross Pay Withholding 54,200 $ 483 2,000 346 1.400 51 41 In addition to gross pay the company must pay one half of the $88 per employee weekly health insurance, each employee pays the remaining one halt. The company also contributes an extra 8% of each employee's gross payat no cost to employees to a pension fund Required: Compute the following for the week ended August 25. Round your intermediate calculations and final answers to 2 decimal places Employees' RICA Wholdings for Social Security Employee Earnings Subject to Tax Tax Rate Tax Rate Das Tax Amount Trey Kesha Chee Tas 0.00 Employees' FICA Wholdings for Medicare 105 Next > . 3 s 4 2 5 6 7 8 9 0 W E R T > U 1 o S D F G H J K Q $ 1 2 % 5 3 6 7 8 9 O Q W E R T Y o U S D F G H. J L N X C V B N M 3 command command Employee Earnings Subject to Tax Tax Amount Tax Rate Da Trey Kesha Chee Total $ 0.00 Employer's SUTAT Employee Earnings Subject to Tax Tax Rate Tax Amount Tax Rate D Trey Totals 0.00 Chee Total Ti Each Employee's Not take homel Pay Employee Cross Pay 5 4.200.00 Income tax withholding 43300 PICA- Social Security FICA Medicare Trey Kesha 2.000005 346.00 55.00 1.800.00 $ 9.400.00 521.00 0.00 0.00 0.00 2 3 5 4 $ 5 & 7 6 8 9 0 W E R T > U 0 P S D F G H J K L x C V 00 N. M H 98 mand Command Dotion ey Help Save Kesha Chee Total $ 0.00 Chee Total 7) Each Employee's Net (take home Pay Employee Dall Gross Pay $ 4,200.00 $ Income tax withholding 100 FICA-Social Security FICA. Medicare Health Insurance Trey Kesha 2,000.00 $ 1.400.00 345.00 5100 1.800.00 $ 9.400.00 921.00 0.00 0.00 0.00 $ 0.00 3) Employer's total payroll-related expense for each employee Employee Dalil Trey Kesha Gross Pay $ 4,200.00 2.000005 1,400.00 $ FICA. Social Security 0.00 000 000 FICA-Medicare 0.00 0.00 0.00 FUTA 000 000 0.00 0.00 0.00 0.00 Heathinance Pension Total Payroll Expense $ 4,200.00 5 2.000.00 1.400.00 Chee Total 1,800.00 400.00 0.00 0.00 0.00 0.00 000 0.00 0.00 0.00 0.00 0.00 1.800.00 9.400.00 SUTA Prev 1 of 5 Next > Q & 7 2 3 5 6 8 9 0 Q w E R T Y 1 C S D F G H. J K > N C V 00 N. M Command command