Exercise 9-11 (Static) Computing payroll taxes LO P2, P3

Mest Company has nine employees. FICA Social Security taxes are 6.2% of the first $137,700 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to each employee. Cumulative pay for the current year for each of its employees follows.

Employee	Cumulative Pay	Employee	Cumulative Pay	Employee	Cumulative Pay
Ken S	$ 6,000	Julie W	$ 143,500	Christina S	$ 140,200
Tim V	40,400	Michael M	106,900	Kitty O	36,900
Steve S	87,000	Zach R	137,700	John W	4,000

a. Compute the amounts in this table for each employee. b. For the company, compute each total for FICA Social Security taxes, FICA Medicare taxes, FUTA taxes, and SUTA taxes. Hint: Remember to include in those totals any employee share of taxes that the company must collect.

Complete this question by entering your answers in the tabs below. Required A Required B Compute the amounts in this table for each employee. Pay Subject to Employee Cumulative Pay FICA Social Security | Ken S $ Tim V Steve S Julie W Michael M Zach R Christina S Kitty O John W Totals 6,000 40,400 87,000 143,500 106,900 137,700 140,200 36,900 4,000 $ 702,600 Pay Subject to Pay Subject to Pay Subject to FICA Medicare FUTA Taxes SUTA Taxes Complete this question by entering your answers in the tabs below. Required A Required B For the company, compute each total for Federal Insurance Contributions Act (FICA) Social Security taxes, Federal Insurance Contributions Act (FICA) Medicare taxes, Federal Unemployment Taxes (FUTA), and State Unemployment Taxes (SUTA). Hint: Remember to include in those totals any employee share of taxes that the company must collect. (Round your final answers to 2 decimal places.) Show less Tax Paid by Tax Paid by Employee Employer Total Tax FICA Social Security taxes FICA Medicare taxes FUTA taxes SUTA taxes