The payroll sheet for Mahogany Company for the month of July is presented.

The company is allowed a 1% unemployment compensation rate by the state; the federal unemployment tax rate is 0.8% and the maximum for both is $7,000 of annual wages.

Assume a 10% federal income tax rate for all employees and a 7.65% total FICA tax on employee and employer on a maximum of $128,400. In addition, 1.45% (Medicare rate) is charged both employer and employee for an employees wages in excess of $128,400 per employee.

Please help me fill out this chart. When you find the values please show how you got them (the excel functions used to derive the answer) THANKS!

FUTA SUI Net Pay Jerry Jessie Javier Jeremy John Joan Totals Earnings to June 30 75,000.00 104,000.00 6,000.00 125,000.00 42,500.00 3,600.00 $ 356,100.00 July Earnings 15,000.00 17,000.00 800.00 21,000.00 7,100.00 1,500.00 62,400.00 Income Tax Withholding Social Security 1,500.00 930.00 1,700.00 1,054.00 80.00 49.60 2,100.00 1,302.00 710.00 440.20 150.00 93.00 $ 6,240.00 $ 3,868.80 Medicare 217.50 246.50 11.60 304.50 102.95 21.75 $ 904.80 Total FICA 1,147.50 1,300.50 61.20 1,606.50 543.15 114.75 4,773.60 $ $ $ - $ - $