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Required Information Use the following information for the Exercises below. (Algo) [The following Information applies to the questions displayed below.] BMX Company has one employee.
Required Information Use the following information for the Exercises below. (Algo) [The following Information applies to the questions displayed below.] BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $137,700 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. b. c. Gross Pay through August 31 $ 5,500 3,000 132,400 Gross Pay for September $ 2,300 3,100 9,000 a) Tax September Earnings Subject to Tax Tax Rate Tax Amount FICA-Social Security FICA-Medicare FUTA SUTA b) Tax September Earnings Subject to Tax Tax Rate Tax Amount FICA-Social Security FICA-Medicare FUTA SUTA c) Tax September Earnings Subject to Tax Tax Rate Tax Amount FICA-Social Security FICA-Medicare FUTA SUTA
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