In addition to gross pay, the company must pay 60% of the $50 per employee weekly health insurance; each employee pays the remaining 40%. The company also contributes an extra 5% of each employee’s gross pay (at no cost to employees) to a pension fund.

Required

Compute the following for the week ended September 30 (round amounts to the nearest cent):

1. 1. Each employee’s FICA withholdings for Social Security.

   2. Each employee’s FICA withholdings for Medicare.

   3. Employer’s FICA taxes for Social Security.

   4. Employer’s FICA taxes for Medicare.

   5. Employer’s FUTA taxes.

   6. Employer’s SUTA taxes.

   7. Each employee’s net (take-home) pay.

   8. Employer’s total payroll-related expense for each employee.

Fishing Guides Co. has four 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. 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 September 30. Payroll records show the following information for the company's four employees. A B D Current Week Gross Pay through Sep. 23 $126,800 126,885 Name Gross Pay Income Tax Withholding $198 182 2 3 Ahmed $2,500 4 Carlos 1,515 Jun 6,650 475 32 Marie 23,700 1,000 68