Problem 9-3a paytoll expenses, withholdings and taxes.

Problem 9-3A Payroll expenses, withholdings, and taxes LO P2, P3 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. Name Dal Trey Kiesha Chee Current Week Gross Pay Income Tax through Aug. 18Gross Pay Withholding Withholding $124,600 $4,500 $ 497 125,800 2.500 33B 8.600 1.000 52 2.550 1.000 In addition to gross pay, the company must pay one-half of the $90 per employee weekly health insurance; each employee 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 Employee Employee Earnings Subject to Tax Tax Rate Dali Trey Kiesha Ch 14 P u . 9-3a Help Save & 1) Employees' FICA Withholdings for Social Security R Employee Earnings Subject to Tax T Amount Tax Rate Dali Trey Kiesha Chee Total $ 0.00 2) Employees' FICA Withholdings for Medicare Employee Earnings Subject to Tax Tax Rate Tax Amount Tax Rate Trey Kiesha Chee Total $ 0.00 Tax Amount 3) Employer's FICA Taxes for Social Security Earnings Tax Rate Employee Subject to Tax Tax Rate Dali Help 2) Employer's FICA Taxes for Social Security Employee Earnings Subject to Tax Tax Rate Tax Amount Tax Rate Dali Trey Kiesha Chee Total $ 0.00 4) Employer's FICA Taxes for Medicare Employee Earnings Subject to Tax Tax Rate Tax Amount Tax Rate Dali Kiesha Chee Total $ 0.00 5) Employer's FUTA Taxes Earnings Subject to Tax Tax Rate Tax Amount Employee Subject to Tax Tax Rate Dali Prev 1 of 1 Next Help Save & 5) Employer's FUTA Taxes Employee Earnings Subject to Tax Tax Rate Tax Amount Tax Rate Dali Trey Kiesha Chee Total $ 0.00 6) Employer's SUTA Taxes Earning Employee Tax Amount Earnings Subject to Tax Tax Rate Tax Rate Trey Kiesha Chee Total $ 0.00 Chee $ $ $ 7) Each Employee's Net (take home) Pay Employee Dali Gross Pay $ 4.500.00 Income tax withholding 497.00 FICA - Social Security FICA - Medicare Kiesha $ 1.000.00 52.00 Trey 2.600.00 338.00 1,000.00 41.00 Total 9,100.00 928.00 0.00 0.00 Next Total $ 0.00 Total $ Trey 2,600.00 338.00 Kiasha 1,000.00 52.00 $ 7) Each Employee's Net (take-home) Pay Employee Dall Gross Pay $ 4,500.00 Income tax withholding 497.00 FICA - Social Security FICA - Medicare Health Insurance Net Pay Chee 1,000.00 41.00 $ 9,100.00 928.00 0.00 0.00 Total Chee 1,000.00 $ $ 9,100.00 0.00 rences 0.00 0.00 8) Employer's total payroll-related expense for each employee. Employee Dali Trey Klesha Gross Pay $ 4.500.00 $ 2,600.00 $ 1,000.00 FICA - Social Security 0.00 0.00 0.00 FICA - Medicare 0.00 0.00 0.00 FUTA 0.00 0.00 0.00 SUTA 0.00 0.00 0.00 Health Insurance Pension | Total Payroll Expense $ 4,500.00 $ 2,600.00 $ 1,000.00 0.00 0.00 0.00 0.00 9,100.00 $ 1,000.00 $ :: Next