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Mest Company has nine employees. FICA Social Security taxes are 6.2% of the first $137,700 paid to each employee, and HCA Medicare taxes are
Mest Company has nine employees. FICA Social Security taxes are 6.2% of the first $137,700 paid to each employee, and HCA 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 Ken S Tim V Steve S Cumulative Pay $5,600 Employee Julie W Michael M Zach R Cumulative Pay $ 149,500 112,900 137,700 Employee Christina S Kitty o John W 46,488 93,000 a. Compute the amounts in this table for each employee. Cumulative Pay $141,400 42,900 6,500 b. For the company, compute each total for FICA Social Security taxes, FICA Medicore taxes, FUTA taxes, and SUTA taxes. Hint Remember to include in those totals any employee share of taxes that the company must collect. Complete this question by entering your answers in the tabs below. Required A Required B Compute the amounts in this table for each employee. Employee Cumulative Pay Pay Subject to FICA Social Pay Subject to Pay Subject to Pay Subject to FICA Medicare FUTA Taxes SUTA Taxes Security Ken S $ 5,600 Tim V 46,400 Steve S 93,000 Julie W 149,500 Michael M 112,900 Zach R 137,700 Christina S 141,400 Kitty O 42,900 John W 6,500 Totals $ 735,900 Required A Required B > Complete this question by entering your answers in the tabs below. Required A Required B For the company, compute each total for FICA Social Security taxes, FICA Medicare taxes, FUTA taxes, and SUTA taxes. Hint: Remember to include in those totals any employee share of taxes that the company must collect. (Round your final answers to 2 decimal places.) FICA Social Security taxes FICA Medicare taxes FUTA taxes SUTA taxes Tax Paid by Employee Tax Paid by Employer Total Tax
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