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Paloma Co, has four employees. FICA Social Security taxes are 6.2% of the first $118,500 pald to each employee and FICA Medicare taxes are 145%

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Paloma Co, has four employees. FICA Social Security taxes are 6.2% of the first $118,500 pald to each employee and FICA Medicare taxes are 145% 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, Dat Trey minha Chee through Aug. 18 5116,000 116, 650 9, 100 3,050 Current woor Theme Tax SEO PAY Withholding $4,000 568 1.850 290 650 56 600 45 In addition to gross pay, the company must pay one half of the $100 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 Tax Rate Tax Amount Employee Earnings Subject to Tax 6.20% Dali Trey Kesha Chee Total $ 0.00 2) Employees' FICA Withholdings for Medicare Earnings Subject to Tax Tax Rate Tax Amount Employee Dali Trey Kiesha Chee Total S 0.00 3) Employer's FICA Taxes for Social Security Earnings Employee Tax Rate Subject to Tax Tax Amount Dali Trey Kesha Chee Total S 000 4) Employer's FICA Taxes for Medicare Employee Earnings Subject to Tax Tax Rate Tax Amount Dali Trey Kiosha Chee Total s 0.00 5) Employer's FUTA Taxes Tax Rate Tax Amount Employee Earnings Subject to Tax Dall Trey Kiesha Chee Total $ 0.00 6) Employer's SU TA Taxes Tax Rate Tax Amount Employee Earnings Subject to Tax Dali Trey Kiesha Chee Total $ 0.00 Chee Total Klesha Trey 650.00 $ 600.00 $ 7) Each Employee's Net (take-home) Pay Employee Dali Gross Pay $ 4,000.00 $ Income tax withholding 568 00 FICA - Social Security FICA - Medicare 1,850.00 $ 298.00 7,100.00 967 00 56.00 45.00 0.00 0.00 0.00 Health Insurance $ 0.00 Net Pay Kiesha Chee 650.00 $ s 600.00 $ $ 8) Total Payroll Related Expense for Each Employee Employee Dali Trey Gross Pay 4,000.00 $ 1,850.00 $ FICA - Social Security 0.00 FICA - Medicare 0.00 0.00 FUTA 0.00 0.00 SUTA 0.00 0.00 Total 7,100.00 0.00 0.00 0.00 0.00 0.00 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 7,100.00 $ 4,000.00 $ 1,850.00 $ 650.00 $ 600.00 $

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