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[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

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[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. b. C. Gross Pay through August 31 $ 5,500 2,500 123,100 Gross Pay for September $2,300 2,600 9,000 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. Leave no cells blank.) Answer is complete but not entirely correct. a) Tax September Earnings Subject Tax Rate Tax Amount to Tax FICA-Social Security $ 2,600.00 6.20% $ 161.20 FICA-Medicare 2,600.00 1.45% 37.70 FUTA 1,700.00 0.60% 10.20 SUTA 1,700.00 5.40% 91.80 b) September Tax Earnings Subject Tax Rate Tax Amount to Tax FICA-Social Security 2,900.00 + 6.20% $ 179.80 FICA-Medicare 2,900.00 1.45% 42.05 FUTA 2,900.00 0.60% 17.40 SUTA 2,900.00 5.40% 156.60 c) Tax September Earnings Subject Tax Rate Tax Amount to Tax FICA-Social Security $ 4,700 6.20% $ 291.40 FICA-Medicare FUTA SUTA 9,600 1.45% 139.20 0.60% 5.40% G < Prev 1 2 3 of 6 Next >

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