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Mest Company has nine employees. FICA Social Security taxes are 6 . 2 % of the first $ 1 3 7 , 7 0 0
Mest Company has nine employees. FICA Social Security taxes are of the first $ paid to each employee, and FICA Medicare taxes are of gross pay. FUTA taxes are and SUTA taxes are of the first $ paid to each employee. Cumulative pay for the current year for each of its employees follows.
tableEmployeeCumulative Pay,Employee,Cumulative Pay,Employee,Cumulative PayKen S$Julie W$Christina STim VMichael MKitty Steve SZach RJohn W
a Compute the amounts in this table for each employee.
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.
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Compute the amounts in this table for each employee.
tableEmployeetableulativeaytablePay Subject toFICA SocialSecuritytablePay Subject toFICA MedicaretablePay Subject toFUTA TaxestablePay Subject toSUTA TaxesKen S$Tim Steve SJulie WMichael MZach RChristina SKitty OJohn WTotals$$$
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