Paloma Co. Stars has four employees. FICA Social Security taxes are 6.2% of the first $117,000 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. Also, for the first $7,000 paid to each employee, the company€™s FUTA taxes are 0.6% and SUTA taxes are 2.15%. The company is preparing its payroll calculations for the week ended August 25. Payroll records show the following information for the company€™s four employees.

In addition to gross pay, the company must pay one-half of the $60 per employee weekly health insurance; each employee pays the remaining one-half. The company also contributes an extra 8% of each employee€™s gross pay (at no cost to employees) to a pension fund.

Required
Compute the following for the week ended August 25 (round amounts to the nearest cent):
1. Each employee€™s FICA withholdings for Social Security.
2. Each employee€™s FICA withholdings for Medicare.
3. Employer€™s FICA taxes for Social Security.
4. Employer€™s FICA taxes for Medicare.
5. Employer€™s FUTA taxes.
6. Employer€™s SUTA taxes.
7. Each employee€™s net (take-home) pay.
8. Employer€™s total payroll-related expense for each employee.

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Current Week Gross Pay Gross Pay Income Tax Withholding through Aug. 18 Name $115,900 116,100 7,100 1,050 $2,000 $284 145 39 30 Dahlia Trey Kiesha 4 900 450 400 Chee