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I need help to fill 7 and 8 boards. 7) Each Employee's Net (take-home) Pay 2 Employee Dali Trey Kiesha Chee Total Gross Pay $
I need help to fill 7 and 8 boards.
7) Each Employee's Net (take-home) Pay 2 Employee Dali Trey Kiesha Chee Total Gross Pay $ 4,900.00 $ 2,800.00 $ 1,800.00 $ 1,600.00 $ 11,100.00 582.00 290.00 57.00 46.00 975.00 Income tax withholding FICA - Social Security 303.80 173.60 111.60 99.20 688.20 FICA - Medicare 71.05 40.60 26.10 23.20 160.95 Health Insurance 0.00 Net Pay $ 0.00 Chee Total 8) Employer's Total Payroll-Related Expense for Each Employee. Employee Dali Trey Kiesha Gross Pay $ 4,900.00 $ 2,800.00 $ 1,800.00 $ FICA - Social Security 303.80 173.60 111.60 $ 1,600.00 99.20 11,100.00 688.20 FICA - Medicare 71.05 40.60 26.10 23.20 160.95 FUTA 0.00 0.00 0.00 8.40 8.40 SUTA 0.00 0.00 0.00 75.60 75.60 Health Insurance 0.00 Pension 0.00 Total Payroll Expense $ 5,274.85 $ 3,014.20 $ 1,937.70 $ 1,806.40 $ 12,033.15 2 Paloma Company has four 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. 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. Name Dali Trey Kiesha Chee Gross Pay through August 18 $ 124,000 134,900 9, 200 3,150 Current Week Income Tax Gross Pay Withholding $ 4,900 $ 582 2,800 290 1,800 57 1,600 46 In addition to gross pay, the company must pay one-half of the $102 per employee weekly health insurance; each employee pays the remaining one-half. The company also contributes an extra 8% of each employee's gross pay (at 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.)Step by Step Solution
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