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please leave equations to enter in cell. $137,700 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA
please leave equations to enter in cell.
$137,700 paid to its employee, and FICA Medicare taxes are 1.45\% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to its employee. Compute BMX's amounts for each of these four taxes as applied to the employee's gross earnings for September under each of three separate situations (a), (b), and (c). 16 (Use cells A2 to J10 from the given information to complete this question. Enter the formula =0 in column B if no earnings are subject to tax.) 17 \begin{tabular}{|l|l|l|l|l|} \hline 18 & a) Tax & SeptemberEarningsSubjecttoTax & Tax Rate & Tax Amount \\ \hline 19 & FICA-Social Security & & & \\ \hline 20 & FICA-Medicare & & & \\ \hline 21 & FUTA & & & \\ \hline 22 & SUTA & \begin{tabular}{rl|l|} September Earnings \\ Subject to Tax \end{tabular} & Tax Rate & Tax Amount \\ \hline 23 & b) Tax & & & \\ \hline 24 & FICA-Social Security & & & \\ \hline 25 & FICA-Medicare & & & \\ \hline 26 & FUTA & & Tax Amount \\ \hline 27 & SUTA & September Earnings & Tax Rate & \\ \hline 28 & c) Tax & & & \\ \hline 29 & FICA-Social Security & & & \\ \hline 30 & FICA-Medicare & & & \\ \hline 31 & FUTA & & & \\ \hline 32 & SUTA & & & \\ \hline 33 & & & & \\ \hline \end{tabular} Step by Step Solution
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