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Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.] DYR Company has one employee.
Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.] DYR Company has one employee. FICA Social Security taxes are 6.2% of the first $147,000 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. For DYR, its FUTA taxes are 0.6% of the first $7,000 and SUTA taxes are 3.0% of the first $8,500 paid to each employee. a. Gross Pay through August 31 $ 6,300 17,800 129,100 Gross Pay for September $ 1,900 3,600 20,600 Computing payroll taxes LO P2, P3 Compute DYR'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 September Earnings Subject to Tax Tax Rate Tax Amount FICA-Social Security $ 1,900.00 FICA-Medicare 1,900.00 6.20% $ 1.45% 117.80 27.55 FUTA SUTA 700.00 0.60% 4.20 2,200.00 3.00% 66.00 b) Tax September Earnings Subject to Tax Tax Rate Tax Amount a snac c 322 36
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