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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 Grous Pay Withholding Dalt $ 126,000 $ 3,400 $ 298 Trey 134,900 2,800 129 Kisha 7,200 1,600 40 Chee 1,150 1.000 31 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.) 3) Employer's FICA Taxes for Social Security Employee Earnings Subject to Tax Tax Rate Tax Amount Tax Rate Dali Trey Klesha Chee PS Total $ 0.00 Tax Rate Tax Amount 4) Employer's FICA Taxes for Medicare Earnings Employee Subject to Tax Tax Rate Dali Trey Klesha Chee Total GA 0.00 5) Employer's FUTA Taxes Employee Earnings Subject to Tax Tax Rate Tax Amount Tax Rate Dali Trey Kiesha Chee Total $ 0.00 6) Employer's SUTA Taxes + Employee Earnings Subject to Tax Tax Rato Tax Amount Tax Rate Dali Trey Kiesha Chee Total $ 0.00 Trey Kiesha Chee Total 2,800.00 $ 1,600.00 $ 1,000.00 $ 8,800.00 7) Each Employee's Net (take-home) Pay Employee Dall Gross Pay $ 3,400.00 $ Income tax withholding 298.00 FICA - Social Security FICA - Medicare Health Insurance Net Pay 129.00 40.00 31.00 498.00 0.00 0.00 0.00 $ 0.00 8) Employer's Total Payroll-Related Expense for Each Employee. Employee Dall Troy Klesha Gross Pay 3,400.00 2,800.00 $ 1,600.00 FICA - Social Security 0.00 0.00 0.00 FICA - Medicare 0.00 0.00 0.00 FUTA 0.00 0.00 0.00 SUTA 0.00 0.00 0.00 Health Insurance Pension Total Payroll Expense $ 3,400.00 $ 2,800.00 $ 1,600.00 $ Chee Total 1,000.00 $ 8,800.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 8,800.00 $ 1,000.00 $

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