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Required Informatlon Use the following information for the Exercises below. [The following information applies to the questions displayed below] BMX Company has one employee. FICA
Required Informatlon 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 $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 $ 5,9e8 Gross Pay for $1,488 3, 5ee 9,488 19,68e 113,68e Exerclse 9-5 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 declmal places.) 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 declmal places.) a) September Tax Tax Rate Tax Amount Subject to Tax FICA-Social Security FICA-Medicare FUTA SUTA S 1,400.00 1,400.00 September Earnings Tax Rate Tax Amount Subject to Tax FICA-Social Security SUTA September EarningS T Tax Tax Rate Tax Amount Subject to Tax FICA-Social Security FUTA SUTA
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