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Paloma Co. Stars has four employees. : Paloma Co Stars has four employees FICA Social Security taxes are 6.2% of the first S1 17,000 paid

Paloma Co. Stars has four employees. :
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Paloma Co Stars has four employees FICA Social Security taxes are 6.2% of the first S1 17,000 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 6% and SUTA taxes are 620% 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 Income Tax Withholding Gross Pay Name through Aug 18 Gross Pay Dahlia $116,000 Trey $2,050 800 460 410 $ 291 129 40 31 116,200 Kiesha Chee 7,200 1,150 In addition to gross pay, the company must pay one-half of the $62 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 Earnings Subject to Tax Tax Rate Tax Amount Employee 620% Dahlia Trey Kiesha Chee Total 0.00 Employees' FICA Withholdings for Medicare mployee Dahlia Trey KGesha Chee Earnings Subject to Tax Tax Rate Tax Amount Total 3) Employer's FICA Taxes for Social Security Employee Dahlia Earnings Subject to Tax Tax Rate Tax Amount Type here to search

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