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I need correct answers for all blue arrowed blank area, I tried but connect says my answers are all wrong. Mest Company has nine employees.
I need correct answers for all blue arrowed blank area, I tried but connect says my answers are all wrong.
Mest Company has nine employees. FICA Social Security taxes are 6.2% of the first $127,200 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 Michelle $ 5,000 $146,500 $132,700 Ken S Lori K W Michael Tim V 45,800 109,900 Kitty O 39,900 M Zach R John W Steve S 90,000 7,000 130,200 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 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 Pay Subject Pay Subject Cumulative FICA Social to FICA to FUTA to SUTA Pay Security Employee Medicare Taxes Taxes 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 Pay Subject to Pay Subject Pay Subject Cumulative FICA Social to FUTA to SUTA to FICA Medicare Employee Pay Security Taxes Taxes 5,000 $ 310 $ 73 $ 30 $ 270 Ken S Tim V 2,840 275 378 45,800 664 Steve S 378 90,000 5,580 1,305 540 Michelle W 7,874 146,500 2,124 879 378 Michael M 659 378 109,900 6,814 1,594 Zach R 7,874 1,888 1,924 378 130,200 781 7,874 Lori K 132,700 796 378 Kitty O 2,474 579 239 378 39,900 378 John W 7,000 434 102 42 707,000 $ 42,074 $ Totals 10,253 $ 4,241 3,294 Required A Required B 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. Complete this question by entering your answers in the tabs below. Required A Required B For the company, compute each total for: FICA Social Security taxes, FICA Medicare taxes, FUTA taxes, and SUTA taxes. (Round your final answers to 2 decimal places.) Tax Paid by Employee 42,074.00 Tax Paid by Employer 42,074.00 Total Tax FICA Social Security taxes S 84,148.00 10,253.00 FICA Medicare taxes 20,506.00 10,253.00 FUTA taxes 4,241.00 4,241.00 3,294.00 SUTA taxes 3,294.00 Required BStep by Step Solution
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