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Paloma Co has four employees, FICA Social Security taxes are 62% of the first $128.400 paid to each employee, and FICA Medicare taxes are 145%

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Paloma Co has four employees, FICA Social Security taxes are 62% of the first $128.400 paid 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 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. Dalt Trey Kiesha Chee Gross Pay through Aug. 18 5124,300 124,800 8,900 2,85e Current werk Income Tax Gross Pay Withholding $4,600 $ 540 3,600 214 1,200 55 1,400 46 In addition to gross pay, the company must pay one half of the 596 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.) Tax Amount 1) Employees' FICA Withholdings for Social Security Employee Earnings Tax Rate Subject to Tax Tax Rate Da Trey Kesha Chee Total 5 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 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 5) Employer's FUTA Taxes Employee Earnings Subject to Tax Tax Rate Tax Amount Tax Rate Dali Trey Kiesha Chee Total $ 0.00 16) Employer's SUTA Taxes Employee Earnings Subject to Tax Tax Rate Tax Amount Tax Rate Dali Trey Kiesha Chee Total $ 0.00 7) Each Employee's Net (take home) Pay Dali Trey Kiesha Chee Total $ $ 3,600.00 S 1,200.00 $ 1.400.00 Employee Gross Pay Income tax withholding FICA- Social Security FICA - Medicare 4,600.00 540.00 $ 10,800.00 953.00 314.00 55.00 44.00 0.00 0.00 Health Insurance 0.00 Net Pay $ 0.00 8) Employer's total payroll-related expense for each employee. Employee Dali Trey Kiesha Gross Pay $ 4,600.00 $ 3,600.00 $ 1,200.00 $ 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 $ 4,600.00 5 3,600.00 $ 1,200.00 $ Chee Total 1,400.00 $ 10,800.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1,400.00 $ 10,800.00 $

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