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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.
Employee Cumulative Pay Employee Cumulative Pay Employee Cumulative Pay
Ken S $ Julie W $ Christina S $
Tim V Michael M Kitty O
Steve S Zach R John W
Compute the amounts in this table for each employee.
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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