Paloma Company has four employees. FICA Social Security taxes are $6\mathrm{.}2\%$ of the first $$137,700$ paid to each employee, and FICAPaloma Company has four employees. FICA Social Security taxes are $6\mathrm{.}2\%$ of the first $$137,700$ paid to each employee, and FICA

Medicare taxes are $1\mathrm{.}45\%$ of gross pay. Also, for the first $$7,000$ paid to each employee, the company's FUTA taxes are $0\mathrm{.}6\%$ and SUTA

taxes are $5\mathrm{.}4\%.$ 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.

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 $25.$

Note: Round your intermediate calculations and final answers to $2$ decimal places.

Medicare taxes are $1\mathrm{.}45\%$ of gross pay. Also, for the first $$7,000$ paid to each employee, the company's FUTA taxes are $0\mathrm{.}6\%$ and SUTA

taxes are $5\mathrm{.}4\%.$ 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.

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 $25.$

Note: Round your intermediate calculations and final answers to $2$ decimal places.

Employees' FICA Withholdings for Medicare