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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%

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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% 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 Income Tax Name through Aug. 18 Gross Pay Withholding Dali $125,400 $5,600 $ 383 Trey 126,000 2,400 403 Kiesha 7,800 1,600 45 Chee 1,750 2,000 35 In addition to gross pay, the company must pay one-half of the $74 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.): 7) Each Employee's Net (take-home) Pay Employee Dall Trey Klesha Chee Total $ 5,600.00 $ 2,400.00 $ 1,600.00 $ 383.00 403.00 45.00 Gross Pay Income tax withholding FICA - Social Security FICA - Medicare Health Insurance 186.00 148.80 99.20 2,000.00 $ 11,600.00 35.00 866.00 124.00 558.00 29.00 168.20 0.00 $ 0.00 81.20 34.80 23.20 Net Pay Chee Total 8) Employer's total payroll-related expense for each employee. Employee Dali Trey Kiesha Gross Pay $ 5,600.00 $ 2,400.00 $ 1,600.00 $ FICA - Social Security 186.00 148.80 99.20 FICA - Medicare 81.20 34.80 23.20 FUTA 0.00 0.00 0.00 SUTA 0.00 0.00 0.00 2,000.00 $ 11,600.00 124.00 558.00 29.00 168.20 12.00 12.00 0.00 0.00 Health Insurance 0.00 Pension Total Payroll Expense 0.00 2,165.00 $ 12,338.20 $ 5,867.20 $ 2,583.60 $ 1,722.40 $

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