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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%

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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% 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 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 Name Dali Trey Kiesha Chee Gross Pay through Aug. 18 $118,300 116, 10e 8, eee 1.95e Current Week Income Tax Gross Pay Withholding $2,90 $412 412 2.ee In addition to gross pay, the company must pay one-half of the $78 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.): 3) Employees' FICA Withholdings for Social Security Earnings Employee Employee Tax Rate Tax Amount Dali s Subject to Tax 2.350.00 2.400.00 540.00 400.00 8.209 6209 0.20% 0.20% Total 5 212.00 ) Employees' FICA Withholdings for Medicare Employee Earnings Subject to Tax Tax Rate Tax Amount Dali Trey Kiesha Chee Total 0.00 3) Employer's FICA Taxes for Social Security Employee Earnings Subject to Tax Tax Rate Tax Amount 4) Employer's FICA Taxes for Medicare Employee Earnings Subject to Tax Tax Rate Tax Amount 5) Employer's FUTA Taxes Employee Earnings Subject to Tax Tax Rate Tax Amount . | Dalis S Trey REALTIME Kiesha Cheef d e Total $ 0.00 6) Employer's SUTA Taxes Employee Earnings Subject to Tax Tax Rate Tax Amount Dali Chee 7) Each Employee's Net (take-home) Pay Employee Dali Kiesha Chee Total 2.000.00 $ 540.00 8.380.00 Gross Pay Income tax with holding FICA. Social Security 400.00 38700 412.00 400.00 5 37.00 20:38 1 48 50 FAME $ 8) Total Payroll Related Expense for Each Employee Employee Dali Trey Kiesha Gross Pay $ 2.000.00 $ 2.400.00 $ 540.00 FICA - Social Security 0.00 0.00 0.00 FICA - Medicare 0.00 0.00 0.00 FUTA 0.00 0.00 SUTA 0.00 0.00 Chee 400.00 0.00 0.00 0.00 0.00 Total 0.330.00 0.00 0.00 0.00 0.00 0.00 Health Insurance Pension Total Payro Expense 400.00 $ 54000 5 400.00 $ 0.33000

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