Exercise 9-9 Computing payroll taxes LO P2, P3 Mest Company has nine employees. FICA Social Security taxes are 6.2% of the first $128,400 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 Kens Tim v Steve s Cumulative Pay $ 6,200 41,400 88,000 Employee Michelle W Michael M Zach R Cumulative Pay $144,500 107,900 129,400 Employee Lori K Kitty o John W Cumulative Pay $131,900 37,900 5,000 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. Complete this question by entering your answers in the tabs below. Required A Required B Compute the amounts in this table for each employee. Cumulative Pay $ 6,200 Pay Subject to FICA Social Security Pay Subject to FICA Medicare Pay Subject to FUTA Taxes Pay Subject to SUTA Taxes 41,400 88,000 Employee Ken S Tim V Steve S Michelle W Michael M Zach R Lori K Kitty o John W Totals 144,500 107,900 129,400 131,900 37,900 5,000 692,200 $ Required A Required B > Tax Paid by Employee Tax Paid by Employer Total Tax FICA Social Security taxes FICA Medicare taxes FUTA taxes SUTA taxes Focus