Name Dali 900 Paloma Company has four employees. FICA Social Security taxes are 6.2% of the first $137700 paid to each employee and FICA Medicare taxes are 1.45% of gross pay. Also, for the first $7000 pald to each employee, the company's FUTA taxes are 0.6% and SUTA taxes are 5.4%. The company is preparing its payroll calculations for the week ended August 25. Payroll records show the following information for the company's four employees Current Week Gross Pay through Income Tax August 18 Gross Pay Withholding $ 136,600 $ 2,000 $ 284 Trey 136,500 145 6,900 450 39 Chee 1,250 In addition to gross pay, the company must pay two-thirds of the $60 per employee weekly health insurance each employee pays the remaining one-third. The company also contributes an extra 8% of each employee's gross pay (at no cost to employees) to a pension fund Required: Compute the following for the week ended August 25, (Round your intermediate calculations and final answers to 2 decimal places.) Kiesha 400 30 1) Employees' FICA Withholdings for Social Security Employee Earnings Tax Rate Subject to Tax Tax Amount Tax Rate Dal Tia 1) Employees' FICA Withholdings for Social Security Earnings Subject to Tax Employee Tax Rate Tax Amount Tax Rate Dall Trey Kiesha tes Chee Total $ $ 0.00 2) Employees' FICA Withholdings for Medicare Earnings Subject to Tax Tax Rate Tax Amount Employee Tax Rate Dall Trey Kiesha Chee Total $ 0.00 3) Employer's FICA Taxes for Social Security Employee Earnings Subject to Tax Tax Rate Tax Amount Tax Rate Dali Trey Kiesha Chee Total $ 0.00 4) Employer's FICA Taxes for Medicare Employee Earnings Subject to Tax Tax Rate Tax Rate Tax Amount Dali Trey Kiesha Chee Total $ 0.00 Tax Rate Tax Amount 5) Employer's FUTA Taxes Earnings Employee Subject to Tax Tax Rate Dali Trey Kiesha Chee Total $ 0.00 6) Employer's SUTA Taxes Employee Earnings Subject to Tax Tax Rate Tax Amount Tax Rate Dali Trey Kiesha Chee Total $ 0.00 Kiesha Chee Total 7) Each Employee's Net (take-home) Pay Employee Dali Gross Pay $ 2,000.00 $ Income tax withholding 284.00 FICA - Social Security FICA - Medicare Health Insurance Trey 900.00 $ 145.00 450.00 $ 400.00 $ 30.00 3,750.00 498.00 39.00 0.00 0.00 0.00 Net Pay $ 0.00 Total Chee 400.00 $ 3,750.00 0.00 0.00 0.00 0.00 8) Employer's Total Payroll-Related Expense for Each Employee Employee Dali Trey Kiesha Gross Pay $ 2,000.00 $ 900.00 $ 450.00 $ FICA - Social Security 0.00 0.00 0.00 FICA - Medicare 0.00 0.00 0.00 FUTA 0.00 0.00 0.00 SUTA 0.00 0.00 0.00 Health Insurance Pension Total Payroll Expense 2,000.00 $ 900.00 $ 450.00 $ 0.00 0.00 0.00 0.00 0.00 0.00 400.00 $ 3,750.00
