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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, 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. Gross Pay through August 31 5,100 2,300 122,700 Gross Pay for September $2,200 2,480 8,600 b. Exercise 11-5 Computing payroll taxes LO P2, P3 Exercise 11-5 Computing payroll taxes LO P2, P3 Compute BMX s amounts for each of these four taxes as applied to the employee's gross earnings for September under each of the separate situations (4.1), and (4. (Round your answers to 2 decimal places.) 13 September Caming Subject to fax Tax Hate famount FICA Social Security FCA Madiran FUTA SUTA September Larnings Subiectele Tax Rate Tax Amnon Exercise 11-5 Computing payroll taxes LO P2, P3 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.) Tax September Earnings Subject to Tax Tax Rate Tax Amount FICA-Social Security FICAMedicare FUTA SUTA b) Tax September Earnings Subject to Tax Tax Rate Tax Amount FICA-Social Security FICAMedicare FUTA SUTA c) Tax September Earnings Subject to Tax Tax Rate Tax Amount FICA Social Security FICA Medicare FUTA SUTA
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