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Paloma Co has four employees FICA Social Security taxes are 62% of the first $118,500 paid to each employee, and FICA Medicare taxes are 1.45%

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Paloma Co has four employees FICA Social Security taxes are 62% of the first $118,500 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. Also, for the first S7000 paid to each employee, the company's FUTA taxes are 06% and SUTA taxes are 215% 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 Gross Pay Income Tax s Pay Withholding Name $117,400 117,600 6,980 1,25e $2,000 960 456 400 284 145 39 3e Dali Trey Kiesha Chee 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 decima places.) 1) Employees FICA Withholdings for Social Security Prex 1of6 Next> Next >

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