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Paloma Co. has four employees. FICA Social Security taxes are 6.2% of the first $118,500 paid to each employee, and FICA Medicare taxes are 1.45%

Paloma Co. has four employees. FICA Social Security taxes are 6.2% of the first $118,500 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. Also, for the first $7,000 paid to each employee, the companys FUTA taxes are 0.6% and SUTA taxes are 2.15%. The company is preparing its payroll calculations for the week ended August 25. Payroll records show the following information for the companys four employees.

Current Week
Name Gross Pay through Aug. 18 Gross Pay Income Tax Withholding
Dali $ 115,600 $ 3,000 $ 426
Trey 116,150 2,350 379
Kiesha 8,100 550 48
Chee 2,050 500 38

In addition to gross pay, the company must pay one-half of the $80 per employee weekly health insurance; each employee pays the remaining one-half. The company also contributes an extra 8% of each employees 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.):

1) Employees' FICA Withholdings for Social SecurityEmployeeEarnings Subject to TaxTax RateTax AmountDaliTreyKieshaCheeTotal$0.002) Employees' FICA Withholdings for MedicareEmployeeEarnings Subject to TaxTax RateTax AmountDaliTreyKieshaCheeTotal$0.003) Employer's FICA Taxes for Social SecurityEmployeeEarnings Subject to TaxTax RateTax AmountDaliTreyKieshaCheeTotal$0.004) Employer's FICA Taxes for MedicareEmployeeEarnings Subject to TaxTax RateTax AmountDaliTreyKieshaCheeTotal$0.005) Employer's FUTA TaxesEmployeeEarnings Subject to TaxTax RateTax AmountDaliTreyKieshaCheeTotal$0.006) Employer's SUTA TaxesEmployeeEarnings Subject to TaxTax RateTax AmountDaliTreyKieshaCheeTotal$0.007) Each Employee's Net (take-home) PayEmployeeDaliTreyKieshaCheeTotalGross Pay$3,000.00$2,350.00$550.00$500.00$6,400.00Income tax withholding426.00379.0048.0038.00891.00FICA - Social Security0.00FICA - Medicare0.00Health Insurance0.00Net Pay$0.008) Total Payroll Related Expense for Each EmployeeEmployeeDaliTreyKieshaCheeTotalGross Pay$3,000.00$2,350.00$550.00$500.00$6,400.00FICA - Social Security0.000.000.000.000.00FICA - Medicare0.000.000.000.000.00FUTA0.000.000.000.000.00SUTA0.000.000.000.000.00Health Insurance0.00Pension0.00Total Payroll Expense$3,000.00$2,350.00$550.00$500.00$6,400.00

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