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 Current Week Gross Pay Income Tax Gross Pay Withholding Name Dali Trey Kiesha Chee through Aug. 18 $116,106e 116,750 9, 300 3,25e $4,200 1,75e 678 620 $ 596 282 In addition to gross pay, the company must pay one-half of the $104 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 Earnings Subject to Tax Tax Rate Tax Amount Employee Dali Trey Kiesha Chee Total 0.00 2) Employees' FICA Withholdings for Medicare Earnings Subject to Tax Employee Tax Rate Tax Amount Dali Trey Kiesha Chee Total 0.00 3) Employer's FICA Taxes for Social Security Employee Dali Trey Kiesha Chee Earnings Subject to Tax Tax Rate Tax Amount Total $ 0.00 4) Employer's FICA Taxes for Medicare Earnings Subject to Tax Employee Tax Rate Tax Amount Dali Trey Kiesha Chee Total $ 0.00 5) Employer's FUTA Taxes Earnings Subject to Tax Employee Tax Rate Tax Amount Dali Trey Kiesha Chee Total$ 0.00 6) Employer's SUTA Taxes Earnings Subject to Tax Employee Tax Rate Tax Amount Dali Trey Kiesha Chee Total $ 0.00 7) Each Employee's Net (take-home) Pay Employee Gross Pay Income tax withholding FICA Social Security FICA - Medicare Health Insurance Net Pay Dali Trey Kiesha Chee Total $ 4,200.00 $ 1,750.00 $ 670.00 $ 620.00 $ 7,240.00 983.00 0.00 0.00 0.00 0.00 596.00 282.00 58.00 47.00 8) Total Payroll Related Expense for Each Employee Employee Gross Pay FICA Social Security FICA Medicare FUTA SUTA Health Insurance Dali Trey Kiesha Chee Total $ 4,200.00 $ 1,750.00 $ 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 670.00 $ 0.00 0.00 0.00 0.00 620.00 $ 7,240.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Health Insurance Pension Total Payroll Expense 0.00 0.00 $4,200.00$1,750.00$670.00620.00$ 7,240.00
