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I'm having trouble answering part B of this problem Mest Company has 9 employees. FICA Social Security taxes are 6.2% of the first $118,500 paid
I'm having trouble answering part B of this problem
Mest Company has 9 employees. FICA Social Security taxes are 6.2% of the first $118,500 paid to each employee. and FICA Medicare taxes are 1 45% of gross pay. FUTA taxes are 06% and SUTA taxes are 54% of the first $700 for the current year for each of its employees follows. 0 paid to each employee. Cumulative pay Employee Cumulative Pay EmployeeCumulative PayEmployee Cumulative Pay Ken S Tim V Steve S 6,100 68,700 95,500 Michael M Erin C Kyle B $155,000 115,400 125,500 Lori K Kitty O John W $128,000 45,400 12,500 a. Compute the amounts in this table for each employee Pay Subject to Pay Subject Pay Subject Pay Subject Cumulative FICA Social to FICA Security Medicare to FUTA to SUTA Employee Pay Taxes Taxes Ken S Tim V Steve S Michael M Erin C Kyle B Lori K Kitty O John W Totals 6,100 $ 68,700 95,500 155,000 115,400 125,500 128,000 45,400 12500 6,100$ 68.700 95,500 118,500 115,400 118,500 118,500 45,400 12,500 6,100 S 68,700 95,500 155,000 115.400 125,500 128,000 45,400 12,500 6100 S 7,000 7,000 7,000 7,000 7,000 7,000 7.000 7,000 6,100 7,000 7,000 7,000 7.000 7,000 7,000 7,000 7.000 62,100 S 752,100 699,100 752,100 $ 62,100 $ Lori K Kitty O John W Totals 128,000 45,400 12,500 |$ 752.1001$ 699, 100!$ 752.100 128,000 45,400 12,500 118,500 45,400 12,500 7,000 7,000 7,000 62.100-62,100 7,000 7,000 7,000 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 Tax Paid by Employee Employer Total Tax FICA Social Security taxes FICA Medicare taxes FUTA taxes SUTA taxes 372.60 372.60 3,353.40 3.353 40
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