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Required information The following information applies to the questions displayed below BMX Company has one employee. FICA Social Security taxes are 6.2% of the first
Required information 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 2.9% of the first $7,000 paid to its employee Gross Pay through August $ 5,300 Gross Pay fo September $2,600 2,900 8,800 19,000 113,000 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). (Round your answers to 2 decimal places.) a) Tax FICA-Social Security FICA-Medicare FUTA SUTA September Earnings Subiect to Tax Tax Rate Tax Amount September EarningsTax Rate Tax FICA-Social Security FICA-Medicare FUTA SUTA c) Tax FICA-Social Security FICA-Medicare FUTA SUTA Tax Amount Subject to Tax September Earnings Tax Rate Subiect to Tax
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