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Paloma Co. has four employees. FICA Social Security taxes are 6.2% of the first $118,500 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 $118,500 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 2.15%. 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 Withholding through Aug. 18 Gross Pay Name Dali Trey Kiesha Chee $117,800 118,000 7,500 1,450 $2,400 500 490 440 $ 341 81 42 In addition to gross pay, the company must pay one-half of the $68 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.) Required Compute the following for the week ended August 25. (Round your intermediate calculations and final answers to 2 decime places.) 1) Employees' FICA Withholdings for Social Security Earnings Subject to Tax Employee Tax Rate Tax Amount Dali Trey Kiesha Chee Total 2) Employees' FICA Withholdings for Medicare Earnings Subject to Tax Employee Dali Trey Kiesha Chee Tax Rate Tax Amount Total 3) Employer's FICA Taxes for Social Security Employee Dali Trey Kiesha Chee Earnings Tax Rate Tax Amount Subject to Tax Total 4) Employer's FICA Taxes for Medicare Earnings Subject to Tax Employee Dali Trey Kiesha Chee Tax Rate Tax Amount Total 5) Employer's FUTA Taxes Earnings Subject to Tax Employee Tax Rate Tax Amount Dali Trey Kiesha Chee Total 6) Employer's SUTA Taxes Earnings Employee Dali Trey Kiesha Chee Tax Rate Tax Amount Subject to Tax Total 7) Each Employee's Net (take-home) Pay Employee Gross Pay Income tax withholding FICA Social Security FICA - Medicare Health Insurance Net Pay Dali re Kiesha Chee Total $ 2,400.00 S 500.00 $ 490.00 $ 440.00 $ 3,830.00 341.00 81.00 42.00 33.00 497.00 8) Total Payroll Related Expense for Each Employee Employee Gross Pay FICA - Social Security FICA - Medicare FUTA SUTA Health Insurance Pension Total Payrol Expense Dali Trey Kiesha Chee Total $ 2,400.00$ 500.00$ 490.00 $ 440.00 $ 3,830.00

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