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. Name Dali Trey Kiesha Chee Gross Pay through Aug. 18 $ 124,900 125,200 8,300 2,250 Current Week Income Tax Gross Pay Withholding $4,600 $ 454 3,200 362 2,000 49 1,200 39 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 Tax Rate Subject to Tax Tax Amount Tax Rate Dali Trey Kiesha Chee Total $ 0.00 Tax Amount 2) Employees' FICA Withholdings for Medicare Employee Earnings Tax Rate Subject to Tax Tax Rate Dali Trey Kiesha Chee Total $ 0.00 Tax Amount 3) Employer's FICA Taxes for Social Security Employee Earnings Tax Rate Subject to Tax 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 Tax Rate Tax Amount 5) Employer's FUTA Taxes Employee Earnings Subject to Tax Tax Rate Dali Trey Kiesha Chee Total S 0.00 6) Employer's SUTA Taxes Employee Earnings Subject to Tax Tax Rate Tax Amount Tax Rate Dali Trey Kesha Chee Total S 0.00 Chee Total A 7) Each Employee's Net (take-home) Pay Employee Dali Trey Kiesha Gross Pay 4,800.00 $ 3.200.00 $ 2,000.00 $ Income tax withholding 454.00 362.00 49.00 FICA - Social Security FICA - Medicare Health Insurance Net Pay 1,200.00 $ 11,000.00 39.00 904.00 0.00 0.00 0.00 s 0.00 8) Employer's total payroll-related expense for each employee. Employee Dali Trey Kiesha Gross Pay $ 4,800.00 $ 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 $ 4,800.00 $ 3.200.00 $ 2,000.00 $ Chee Total 1,200.00 $ 11,000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1,200.00 $ 11,000.00
