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Question 1 11.1 11.2 11.3 11.4 The following information applies to the questions displayed below. BMX Company has one employee, FICA Social Security taxes are
Question 1
The following information applies to the questions displayed below. BMX Company has one employee, FICA Social Security taxes are 6.2% of the first $118,500 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 2.5% of the first $7,000 paid to its employee. Gross Pay through August $6,500 Gross Pay for ept $ 900 2,200 8,100 18,300 112,300 Compute BMX's amounts for each of these four taxes as applied to the employee's gross earnings for September under each of thre separate situations (a). (b), and (c). (Round your answers to 2 decimal places.) nces September Earnings Subject to Tax Tax Rate Tax Amount FICA-Social FICA-Medicare FUTA SUTA I Security September Earnings Subject to Tax Tax Rate Tax Amount FICA-Social Security 11.1
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