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Paloma Company has four employees. FICA Social Security taxes are 6 . 2 % of the first $ 1 3 7 , 7 0 0

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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 $7,000 paid to each employee, the company's FUTA taxes are 0.6% and SUTA taxes are 5.4%. The company is preparing its payroll calculations for the week ended August 25. Payroll records show the following information for the company's four employees.NameGross Pay throughAugust 18Current WeekGross PayIncome TaxWithholdingDali$ 123,900$ 5,000$ 596Trey134,9002,800282Kiesha9,3002,00058Chee3,2502,00047in addition to gross pay, the company must pay one-half of the $104 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.Note: Round your intermediate calculations and final answers to 2 decimal places.
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