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Required information Use the following information for the Exercises below. The following information applies to the questions displayed below.] BMX Company has one employee. FICA
Required information Use the following information for the Exercises below. The following information applies to the questions displayed below.] BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $128,400 paid to its employee, ar 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 paid to its employee. Gross Pay through August 31 $ 6,600 2,100 122,300 Gross Pay for September $ 500 2,200 8,200 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.) Answer is complete but not entirely correct. Tax Tax Rate Tax Amount $ September Earnings Subject to Tax 500.00 500.00 400.00 400.00 FICA-Social Security FICA-Medicare FUTA SUTA b) 31.00 7.25 6.20% 1.45% 0.60% 5.40% 2.40 21.60 Tax Tax Rate Tax Amount $ September Earnings Subject to Tax 2,200.00 2,200.00 0.00 0.00 6.20% 1.45% FICASocial Security FICA-Medicare FUTA SUTA 136.40 31.90 Tax Tax Rate Tax Amount September Earnings Subject to Tax 6,100.00 8,200.00 6.20% $ FICASocial Security FICAMedicare FUTA 378.20 1.45% 118.90 0 SUTA Required information Use the following information for the Exercises below. The following information applies to the questions displayed below.] BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $128,400 paid to its employee, ar 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 paid to its employee. Gross Pay through August 31 $ 6,600 2,100 122,300 Gross Pay for September $ 500 2,200 8,200 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.) Answer is complete but not entirely correct. Tax Tax Rate Tax Amount $ September Earnings Subject to Tax 500.00 500.00 400.00 400.00 FICA-Social Security FICA-Medicare FUTA SUTA b) 31.00 7.25 6.20% 1.45% 0.60% 5.40% 2.40 21.60 Tax Tax Rate Tax Amount $ September Earnings Subject to Tax 2,200.00 2,200.00 0.00 0.00 6.20% 1.45% FICASocial Security FICA-Medicare FUTA SUTA 136.40 31.90 Tax Tax Rate Tax Amount September Earnings Subject to Tax 6,100.00 8,200.00 6.20% $ FICASocial Security FICAMedicare FUTA 378.20 1.45% 118.90 0 SUTA
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