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Mest Company has nine employees. FICA Social Security taxes are 6.2% of the first $132,900 paid to each employee, and FICA Medicare taxes are 1.45%
Mest Company has nine employees. FICA Social Security taxes are 6.2% of the first $132,900 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 Ken 5 Tim V Steve S Cumulative Pay $ 6,500 Employee Julie W Michael M Zach R Cumulative Pay $146,000 109,400 130,900 Employee Christina S Kitty o John W Cumulative Pay $133,400 39,400 6,500 42,900 89,500 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. Complete this question by entering your answers in the tabs below. Required A Required B Compute the amounts in this table for each employee. Pay Subject to Pay Subject FICA Social to FICA Security Medicare Pay Subject to FUTA Taxes Pay Subject to SUTA Taxes Employee Ken S Tim V Steve S Julie W Cumulative Pay $ 6,500 42,900 89,500 146,000 109,400 130,900 133,400 39,400 6,500 $ 704,500 Michael M Zach R Christina S Kitty John W Totals $ 0 $ $ 0 $ 0 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. (Round your final answers to 2 decimal places.) Tax Paid by Employee Tax Paid by Employer Total Tax FICA Social Security taxes FICA Medicare taxes FUTA taxes SUTA taxes
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