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just need help with part 7 nd 8 Problem 9-3A Payroll expenses, withholdings, and taxes LO P2, P3 Paloma Co. has four employees. FICA Social

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Problem 9-3A Payroll expenses, withholdings, and taxes LO P2, P3 Paloma Co. has four employees. FICA Social Security taxes are 6.2% of the first $118,500 paid to each employee, and FICA Medicare taxes are 145% 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 2.15%. 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 Current Week Gross Pay Income Tax through Aug. 18 Gross Pay Withholding Dalt $115,550 $3,100 Trey 116,200 2,300 371 8,200 2,150 510 Name $ 440 Kiesha Chee 560 49 38 In addition to gross pay, the company must pay one-half of the $82 per employee weekly health insurance; each employee pays the remaining one-halt. 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.): 7) Each Employee's Net (take-home) Pay Employee Dall Trey Kiesha Chee Total $ 3,100.00 $ 440.00 560.00 $ 510.00 $ 6,470.00 Gross Pay Income tax withholding FICA - Social Security FICA - Medicare Health Insurance 2,300.00 $ 371.00 142.60 49.00 38.00 898.00 182.90 34.72 31.62 391.84 44.95 33.35 8.12 7.40 93.82 Net Pay 0.00 $ 0.00 nces Chee Total 8) Total Payroll Related Expense for Each Employee Employee Dali Trey Kiesha Gross Pay $ 3,100.00 $ 2,300.00 $ 560.00 FICA - Social Security 182.90 142.60 34.72 FICA - Medicare 44.95 33.35 8.12 FUTA 0.00 0.00 SUTA 0.00 0.00 0.00 Health Insurance 38.00 38.00 38.00 Pension Total Payroll Expense $ 3,365.85 $ 2.513.95 $ 640.84 $ 510.00 $ 31.62 7.40 6,470.00 391.84 93.82 0.00 3.06 3.06 10.97 10.97 38.00 152.00 601.05 0.00 7.121.69 $ Compute the following for the week ended August 25. (Round your intermediate calculatio places.): 1) Employees' FICA Withholdings for Social Security Earnings Subject to Tax Tax Rate Tax Amount Employee Dali $ 2,950.00 6.20% 182.90 Trey 2,300.00 6.20% 142.60 Kiesha 560.00 6.20% 34.72 Chee 510.00 6.20% 31.62 Total $ 391.84 2) Employees' FICA Withholdings for Medicare Employee Earnings Tax Rate Subject to Tax Tax Amount Dali 1.45% $ 44.95 Trey 1.45% 3,100.00 2,300.00 560.00 510.00 33.35 Kiesha 1.45% Chee 8.12 1.45% 7.40 Total $ 93.82 3) Employer's FICA Taxes for Social Security Employee Earnings Subject to Tax Tax Rate Tax Amount Dali $ 182.90 Trey Kiesha 2,950.00 2,300.00 560.00 6.20% $ 6.20% 142.60 34.72 Chee 6.20% 6.20% 510.00 31.62 Total $ 391.84 4) Employer's FICA Taxes for Medicare Employee Earnings Subject to Tax Tax Rate Tax Amount Dali $ 44.95 Trey Kiesha 3,100.00 2,300.00 560.00 510.00 1.45% $ 1.45% 1.45% 1.45% 33.35 Chee 8.12 7.40 Total $ 93.82 5) Employer's FUTA Taxes Employee Earnings Subject to Tax Tax Rate Tax Amount Dali 0.00 0.60% Trey Kesha 0.00 Chee 0.00 510.00 0.60% $ 3.06 Total $ 3.06

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