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Paloma Company has four employees. FICA Social Security taxes are 6.2% of the first $137,700 paid to each employee, and FICA Medicare taxes are 1.45%

Paloma Company has four employees. FICA Social Security taxes are 6.2% of the first $137,700 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.

Name

Gross Pay Through August 18th

Gross Pay Income tax withholding
Dali 125,300 5,800 398
Trey 134,700 3,000 395
kiesha 7,900 2,000 46
Chee 1,850 1,600 36

In addition to gross pay, the company must pay one-half of the $76 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.

Note: Round your intermediate calculations and final answers to 2 decimal place

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