Paloma Co. has four 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. Also, for the first $7,000 paid 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 Aug. 18 Name Dali Trey Kiesha Chee $124,900 125,200 8,300 2,250 Gross Pay $4,600 3,200 2,000 1,200 Income Tax Withholding $ 454 362 49 In addition to gross pay, the company must pay one-half of the $84 per employee weekly health insurance, each employee pays the remaining one-half. 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.) 1) Employees' FICA Withholdings for Social Security Employee Earnings Subject to Tax Tax Rate Tax Amount Tax Rate Dali Trey Kiesha Chee Total $ 0.00 2) Employees' FICA Withholdings for Medicare Employee Earnings Subject to Tax Tax Rate Tax Amount Tax Rate Dali 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 Amount Tax Rate Dali Trey Kiesha Chee Total $ 0.00 5) Employer's FUTA Taxes Employee Earnings Subject to Tax Tax Rate Tax Amount Tax Rate Dali Trey Kiesha Chee Total $ 0.00 6) Employer's SUTA Taxes Earnings Employee Tax Amount Subject to Tax Tax Rate Tax Rate Dali Trey Kiesha Chee Total $ 0.00 $ 7) Each Employee's Net (take-home) Pay Employee Dali Gross Pay $ 4,600.00 Income tax withholding 454.00 FICA - Social Security FICA - Medicare Health Insurance Net Pay Trey 3,200.00 362.00 Kiesha $ 2,000.00 $ 49.00 Chee 1,200.00 39.00 $ Total 11,000.00 904.00 0.00 0.00 0.00 $ 0.00 $ $ 8) Employer's total payroll-related expense for each employee. Employee Dali Trey Kiesha Gross Pay $ 4,600.00 $ 3,200.00 $ 2,000.00 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 $ 4,600.00 $ 3,200.00 $ 2,000.00 Chee 1,200.00 0.00 0.00 0.00 Total 11,000.00 0.00 0.00 0.00 0.00 0.00 0.00 11,000.00 0.00 $ 1,200.00 $
