Problem 9-3A (Algo) Payroll expenses, withholdings, and taxes LO P2, P3

Paloma Co. has four employees. FICA Social Security taxes are 6.2% of the first $132,900 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 companys 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 companys four employees.

						Current Week
Name	Gross Pay through Aug. 18					Gross Pay					Income Tax Withholding
Dali		$	124,000				$	4,900				$	582
Trey			130,100					2,800					290
Kiesha			9,200					1,800					57
Chee			3,150					1,600					46

In addition to gross pay, the company must pay one-half of the $102 per employee weekly health insurance; each employee pays the remaining one-half. The company also contributes an extra 8% of each employees 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 Tax Employee Subject to Tax Rate Amount Tax Tax Rate Dali Trey Kiesha Chee Total 2) Employees' FICA Withholdings for Medicare Earnings Tax Employee Subject to Tax Rate Amount Tax Tax Rate Dali Trey Kiesha Chee Total 3) Employer's FICA Taxes for Social Security Earnings Tax Employee Subject to Tax Rate Tax Amount Tax Rate Dali Trey Kiesha Chee Total Tax Amount 4) Employer's FICA Taxes for Medicare Earnings Employee Subject to Tax Rate Tax Tax Rate Dali Trey Kiesha Chee Total Tax Amount 5) Employer's FUTA Taxes Earnings Employee Subject to Tax Rate Tax Tax Rate Dali Trey Kiesha Chee Total Tax Amount 6) Employer's SUTA Taxes Earnings Employee Subject to Tax Rate Tax Tax Rate Dali Trey Kiesha Chee Total Kiesha $ 1,800.00 57.00 Chee Total $ $ 1,600.00 11,100.00 46.00 975.00 7) Each Employee's Net (take-home) Pay Employee Dali Trey $ $ Gross Pay 4,900.00 2,800.00 Income tax 582.00 290.00 withholding FICA - Social Security FICA - Medicare Health Insurance Net Pay 8) Employer's total payroll-related expense for each employee. Employee Dali Trey Kiesha Chee Total $ Gross Pay $ $ $ $ 4,900.00 2,800.00 1,800.00 1,600.00 11,100.00 FICA - Social Security FICA - Medicare FUTA SUTA Health Insurance Pension Total Payroll Expense