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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%
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 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 Ken S Tim V Steve s 87 Employee Cumulative Pay LoriK $121,000 Kitty O John W 6,000 60,200 Michael M $143,500 Erin C Kyle B 106,900 118,500 36,900 4,000 a. 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 Taxes Taxes Ken S Tim V Steve S Michael M Erin C Kyle B Lori K Kitty O John W Totals 6,000 7,000 7,000 7,000 7,000 7,000 7,000 7,000 4,000 59,000 8,000 S 8,000 S 8,000 S 80,200 87,000 143,500 108,900 118,500 121,000 36,900 4,000 60,200 87,000 143,500 108,900 118,500 121,000 36,900 4,000 60,200 87,000 143,500 108,900 118,500 121,000 36,900 4,000 8,000 S 7,000 7,000 7,000 7,000 7,000 7,000 7,000 4,000 S 684,000 S 684,000 S 684,000 S 59,000 S
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