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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 $ 124,500 $ 4,300 $ 511
Trey 125,600 2,800 330
Kiesha 8,700 1,600 53
Chee 2,650 1,600 42

In addition to gross pay, the company must pay one-half of the $92 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.):

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1) Employees FICA Withholdings for Social Security Employee Earnings Subject to Tax Tax Rate Tax Amount Tax Rate Dali Trey Kiesha Chee Total $ 0.00 2) Employees' FICA Withholdings for Medicare Employee Earnings Subject to Tax Tax Rate Tax Amount Tax Rate Dali Trey Kiesha Chee Total $ 0.00 3) Employer's FICA Taxes for Social Security Employee Earnings Subject to Tax Tax Rate Tax Amount Tax Rate Dali Trey Kiesha Chee 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 5) Employer's FUTA Taxes Employee Earnings Subject to Tax Tax Rate Tax Amount Tax Rate Dali Trey Kiesha Chee Total $ 0.00 6) Employer's SUTA Taxes Employee Earnings Subject to Tax Tax Rate Tax Amount Tax Rate Dali Trey Kiesha Chee Trey Kiesha Chee Total 7) Each Employee's Net (take-home) Pay Employee Dali Dali Gross Pay $ 4,300.00 Income tax withholding 511.00 FICA - Social Security $ 2,800.00 $ 1,600.00 $ 1,600.00 $ 10,300.00 330.00 53.00 42.00 936.00 FICA - Medicare 0.00 0.00 0.00 Health Insurance Net Pay 0.00 Chee $ $ 8) Employer's total payroll-related expense for each employee. Employee Dali Trey Kiesha Gross Pay $ 4,300.00 $ 2,800.00 $ 1,600.00 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 I I 1,600.00 0.00 0.00 0.00 Total 10,300.00 0.00 0.00 0.00 0.00 0.00 0.00 10,300.00 0.00 Pension Total Payroll Expense $ 4,300.00 $ 2,800.00 $ 1,600.00 $ 1,600.00 $

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