Question: any help? Exercise 9-9 Computing payroll taxes LO P2, P3 Mest Company has 9 employees. FICA Social Security taxes are 6.2% of the first $118,500
Exercise 9-9 Computing payroll taxes LO P2, P3 Mest Company has 9 employees. FICA Social Security taxes are 6.2% of the first $118,500 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay, FUTA taxes are 0.6% and SUTA taxes are 54% of the first $7000 paid to each employee. Cumulative pay for the current year for each of its employees follows. Employee mitative Day Employee Cumaative Pay Employee Cumu Pay Kens $5,200 Michael M $150, 500 LoL K $223.500 64,200 eine 110.900 Kitty Steve 93,000 Kyle 121.000 John W 8.000 Tim v 40,500 a. Compute the amounts in this table for each employee. . Taxes ences Employee Ken 3 Tim V Steve S Michael M Erin Kyle B Lonk Kitty John W Totals Pay Subject to Pay Subject Pay Subject Pay Subject Cumulative FICA Social to FICA to FUTA to SUTA Pay Security Medicare Taxes $ 5,200 64,200 91.000 150,500 110.900 121.000 123,500 40.900 8.000 $ 715.2005 03 05 Os 0 b. For the company, compute each total for: FICA Social Security taxes, FICA Medicare taxes, FUTA taxes, and SUTA taxes. (Round your final answers to 2 decimal places.) TAX Paid by Tax Paid by Employer FICA Social Security taxes FICA Medicare es FUTA taxes SUYA LOS 8 Next >
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