Jason's Inc. has 6 full-time employees. The following chart shows the year-to-date compensation for each employee, along with the compensation for November:

Employee Name	Year to date wages Oct 31,2023	November wages
Rivers,Dawn	$ 82,400	$ 8,240
Brown, Larry	$ 68,000	$ 6,800
Sloan, Brenda	$ 152,000	$ 15,200
Riley, Jack	$ 3,220	$ 3,220
Jackson, Cassandra	$ 8,100	$ 3,100
Smith, David	$ 160,000	$ 16,000

You are also given the following relevant tax information for withholding purposes:

Federal income tax rate:

State income tax rate:

Federal unemployment tax rate FUTA:

State unemployment tax rate SUTA:

15% 5% 0.8% up to $7,000 paid to each employee per year.

5.2% up to $7,000 paid to each employee per year.

FICA tax rate: compensation greater than the cap per employee.

7.65% up to social security wages cap and 1.45% on all Social security caps for FICA tax for 2023: Look it up!

Health insurance premiums per month for each employee are $800 of which employer pays 70% of the premium. All employees are required to buy health insurance. United Health Inc. is the insurance provider.

a. b. c

Prepare a table to show all withholdings and applicable payroll taxes and benefits. Prepare all the journal entries to record total payroll on Nov 30th, 2023. Research the FICA tax system and write a report(max 2 pages double spaced, excluding tables and graphs) on the current system and different ways in which YOU would reform it. You must be specific in your recommendations and must have at least one reform on the tax collection side and one reform on the benefits payout/spending side. You must also describe the pros and cons of any of your recommendations and how it impacts employers, employees, young vs older workers, etc.

I am looking for a thoughtful and data driven analysis by YOU, so please give this careful thought and come up with YOUR creative recommendations.