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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 August 18 Name Gross Pay Income Tax Withholding $ 284 Dali $ 136,600 $ 2,000 Trey 900 145 Kiesha 136,800 6,900 1,250 450 39 Chee 400 30 In addition to gross pay, the company must pay two-thirds of the $60 per employee weekly health insurance; each employee pays the remaining one-third. 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.) 1) Employees' FICA Withholdings for Social Security Employee Earnings Subject to Tax Tax Rate Tax Amount Tax Rate Dali $ 1,10000 68.20 Trey 90000 55.80 Kiesha 450.00 27.90 Chee 400.00 24.80 176.70 6.20% 6.20% $ 6.20% 6.20% 6.20% Total $ 8 of 8 5) Employer's FUTA Taxes Employee Tax Rate Dali Trey Kiesha Chee 6) Employer's SUTA Taxes Employee Earnings Subject to Tax Tax Rate Dali Trey Kiesha Chee 7) Each Employee's Net (take-home) Pay Employee Dali Earnings Subject to Tax Tax Rate 0.60% 0.60% 0.60% Tax Rate Total $ 5.40% 5.40% 5.40% Trey Tax Amount 0.00 Tax Amount 0.00 Total $ Kiesha Chee Total 7) Each Employee's Net (take-home) Pay Employee Dall Gross Pay $ 2,000.00 $ Income tax withholding 284.00 FICA-Social Security 68.20 FICA-Medicare 29.00 Health Insurance Net Pay Kiesha 900.00 $ 450.00 $ 145.00 39.00 55.80 27.90 13.05 6.53 Trey Chee 400.00 30.00 24.80 5.80 Total 3,750.00 498.00 176.70 54.38 0.00 0.00

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