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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
Paloma Company has four employees. FICA Social Security taxes are of the first $ paid to each employee, and FICA
Medicare taxes are of gross pay. Also, for the first $ paid to each employee, the company's FUTA taxes are and SUTA
taxes are The company is preparing its payroll calculations for the week ended August Payroll records show the following
information for the company's four employees.
In addition to gross pay, the company must pay onehalf of the $ per employee weekly health insurance; each employee pays the
remaining onehalf. The company also contributes an extra of each employee's gross pay at no cost to employees to a pension
fund.
Required:
Compute the following for the week ended August
Note: Round your intermediate calculations and final answers to decimal places.
Employees' FICA Withholdings for Medicare
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