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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%

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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% 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. Current Week Gross Pay through Income Tax Name August 18 Gross Pay Withholding Dali $ 125, 900 $ 3,000 $ 312 Trey 134, 900 2, 800 113 Kiesha 7, 300 1, 400 41 Chee 1, 250 1, 800 32 In addition to gross pay, the company must pay one-half of the $64 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

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