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Mest Company has nine employees. FICA Social Security taxes are 6.2% of the first $127,200 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 $127,200 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 Employee Cumulative Pay
Ken S $ 6,300 Michelle W $ 153,000 Lori K $ 139,200
Tim V 52,300 Michael M 116,400 Kitty O 46,400
Steve S 96,500 Zach R 136,700 John W 13,500

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
Employee Pay Security Medicare Taxes Taxes
Ken S $6,300
Tim V 52,300
Steve S 96,500
Michelle W 153,000
Michael M 116,400
Zach R 136,700
Lori K 139,200
Kitty O 46,400
John W 13,500
Totals $760,300 $9,617 $0 $0 $0

b. For the company, compute each total for: FICA Social Security taxes, FICA Medicare taxes, FUTA taxes, and SUTA taxes.

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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