Peppy Company pays its employees on the 15th and last day of each month. Employees gross pay is subject to these taxes: Applied to First $132,900 ALL Wages First $7,000 First $7,000 Rate 6.20% Tax FICA-Social Security FICA-Medicare Federal Unemployment State Unemployment 1.45% 0.60% 3.00% The company is preparing its payroll for the period ending October 31, 2019. Payroll records show the following information for the company's three employees. Current Pay Period Federal Tax State Tax 2% Gross Pay thru 10/15/19 Gross Pay Name Manny 3% 360 $ 6,840 3% 10% 2,000 6,800 38,000 129,200 Moe 5% 20% Jack Required (using an electronic spreadsheet) 1) For the current pay period, compute the following, for each employee: a) Net pay for the current pay period. b) Total cost, to the employer, including wages. 2) In addition to the statutory deductions, each employee must pay one-half of the $200 (per pay period) cost for medical and dental insurance. Insurance is a pre-tax deduction. For the current pay period, compute net pay for each employee. What is the difference between this net pay and the net pay in (1a)? 3) (Independent of Requirement #2.) Peppy Company offers a 401(k) retirement plan to its employees. The company matches all amounts withheld from the employees up to 3% of each employee's gross pay. All employees contribute the maximum amount. Any amounts contributed currently are FICA taxable but are not taxable for federal or state income tax purposes. For the current pay period compute net pay for each employee. What is the difference between this net pay and the net pay in (1a)