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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%

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 companys 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 companys four employees.

Current Week
Name Gross Pay through Aug. 18 Gross Pay Income Tax Withholding
Dali $ 123,900 $ 5,000 $ 596
Trey 125,600 2,800 282
Kiesha 9,300 2,000 58
Chee 3,250 2,000 47

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 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 security.

2. Employees FICA withholdings for Medicare.

3. Employers FICA taxes for social security.

4.Employers FICA taxes for medicare.

5.Employers FUTA taxes.

6. Employers SUTA taxes.

7. Each employees net (take home) pay.

8. Employers total payroll related expense for each employee.

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