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! Required information [The following information applies to the questions displayed below.] a) Tax BMX Company has one employee. FICA Social Security taxes are 6.2%
! Required information [The following information applies to the questions displayed below.] a) Tax BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $132,900 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. a. b. C. Gross Pay through August 31 $ 6,400 2,700 128,500 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). Note: Round your answers to 2 decimal places. FICA-Social Security FICA Medicare FUTA SUTA b) Tax FUTA SUTA c) Tax FICA-Social Security FICA-Medicare Gross Pay for September September Earnings Subject to Tax September Earnings Subject to Tax $ 1,700 2,800 9,900 September Earnings Subject to Tax Tax Rate Tax Rate Tax Rate Tax Amount Tax Amount Tax Amount
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