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Problem 9 - 3 A ( Algo ) Payroll expenses, withholdings, and taxes LO P 2 , P 3 Paloma Company has four employees. FICA
Problem A Algo Payroll expenses, withholdings, and taxes LO P P
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 companys 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 companys four employees.
Current Week
Name Gross Pay through August Gross Pay Income Tax Withholding
Dali $ $ $
Trey
Kiesha
Chee
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 employees 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 Social Security
tabletableEarningsSubject to TaxTax Rate,Tax Amount,EmployeeTax Rate,,,,TreyKieshaChee
Employees' FICA Withholdings for Medicare
table Employees' FICA Withholdings for Medicare,,,,EmployeetableEarningsSubject to TaxTax Rate,Tax Amount,Tax Rate,,,DaliTreyKieshaCheeTotal,$
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