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please explain and show! Paloma Co. has four employees. FICA Social Security taxes are 6.2 % of the first $128,400 paid to each employee, and

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Paloma Co. has four employees. FICA Social Security taxes are 6.2 % of the first $128,400 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 Incore Tax withholding 40 Gross Pay through Aug. 18 $125,000 126, 200 8, 200 2,150 Nane Dali Trey Kiesha Chee Gross Pay $5,800 2,200 1, 400 371 38 In acddition to gross pay, the company must pay one-half of the $82 per employee weckly health insurance; each emplvoe 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.) 1) Employees FICA Withholdings for Social Security Earnings Subject to Tax Employee Tax Rate Tax Amount Tax Rate Dal Trey Kiesha. Chee Total $ 2 Employees FICA Withholdings for Medicare Earnings Sibject to Te Employe Tax Rate Tax Amount Tax Rabe Dalk Trey 2) Employees' FICA Withholdings for Medicare Earnings Subject to Tax Tax Rate Tax Amount Employee Tax Rate Dali Trey Kiesha Chee Total 0.00 3) Employer's FICA Taxes for Social Security Earnings Subject to Tax Tax Rate Tax Amount Employee Tax Rate Dali Trey + Kiesha Chee Total 0.00 4) Employer's FICA Taxes for Medicare Earnings Subject to Tax Tax Rate Tax Amount Employee Tax Rate Dali Trey Kiesha Chee 0l00 Total 5) Employer's FUTA Taxes 5) Employer's FUTA Taxes Earnings Subject to Tax Employee Tax Rate Tax Amount Tax Rate Dali Trey Kiesha Chee 0.00 $ Total 6) Employer's SUTA Taxes Earnings Subject to Tax Employee Tax Rate Tax Amount Tax Rate Dali Trey Kiesha Chee 0.00 S Total 7) Each Employee's Net (take-home) Pay Total Chee Kiesha Trey Dali Employee 11,000.00 1,600.00 1,400.00 $ 2,200.00 5,800.00 $ Gross Pay 898.00 38.00 371.00 49.00 440.00 Income tax withholding O.00 FICA-Social Security 0.00 FICA- Medicare 0.00 Health Insurance 0.00 Net Pay 8) Employer's total payroll-related expense for each employee. Total Chee Kiesha Employee Dali Trey 1,600.00 $ 11,000.00 2,200,00 $ 5,800.00 1,400.00 Gross Pay 0.00 0.00 0.00 0.00 0.00 FICA-Social Security 0.00 0.00 0.00 0.00 0.00 FICA Medicare 0.00 0.00 0.00 0.00 FUTA 0.00 0.00 0.00 0.00 0.00 0.00 SUTA 0.00 Health Insurance 0.00 Pension S 11,000.00 1,600.00 2,200.00 1,400.00 5,800.00 Total Payroll Expense

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