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Mest Company has nine employees. FICA Social Security taxes are 6.2% of the first $128.400 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 $128.400 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 : Cumulative Pay $ 6,eee 40,400 87,899 Employee Michelle W Michael M Zach R Cumulative Pay $143,500 186,999 128,400 Employee Lorik Kitty O John W Cumulative Pay $139,900 36,999 4, eee Tim v Steve s 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 Pay Subject to FICA to FUTA Medicare Taxes 87 96 .000 Pay Subject to SUTA Taxes 6.000 Employee Kens Tim V Steve S Michelle W Michael M Zach R Lorik Pay Subject to Cumulative FICA Social Pay Security S6 ,000 372 40.400 87.000 143.500 108.900 128.400 130.900 38.900 4.000 $ 684,000 S 372 Kitty O John W 87 S 8.000 6.000 Required A Required B > Mest Company has nine employees. FICA Social Security taxes are 6.2% of the first $128.400 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 Ren S Tim V Steve S Cumulative Pay $ 6, eee 40.400 87, eee Employee Michelle W Michael M Zach R Cumulative Pay $143, 508 186,999 128,400 Employee Lori K Kitty O John W Cumulative Pay $138.909 36,900 4,000 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 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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