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Saved Paloma Co. has four employees. taxes are 1 45% of gross pay. Also, for the first S7,000 po dto each employe 25 %. The company is preparing its payroll calculations for the companys four employees. FICA Social Security taxes are 62% of the first $127,200 paid to each employee, and FICA Medicare e, the companys FUTA taxes are 35% and SUTA taxes are for the week ended August 25. Payroll records show the following information Income Tax Withholding Gross Pay through Aug. 18 Gross Pay Name Dali Trey kiesha Chee $3,880 2,880 1,800 1,280 611 274 59 47 $123,880 124,480 9,400 3,358 In addition to gross pay, the company must pay one-half of the $106 per employee weekly health insurance: each employee pays the remaining one-half. The company also contributes an extra 8% of each employees gross pay at no cost to employees to a pension fund Required Compute the following for the week ended August 25 (Round your intermediate calculations and final answers to 2 decimal places.) 1) Employees FICA Withholdings for Social Security Earnings Subject to Tax Tax RateTax Amount Da Prey 12 of 21El Next
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