Question: Help Save & Exit Check ! Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.)
Help Save & Exit Check ! Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.) BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $128.400 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to its employee. a. b. CE Gros Pay through August 31 $ 9.000 2.250 122.600 Gross Pay for September $2,100 2,350 8,500 Exercise 11-5 Computing payroll taxes LO P2, P3 Compute BMX's amounts for each of these four taxes as applied to the employee's gross earnings for Septemt under each of three separate situations (a), (b), and (c)(Round your answers to 2 decimal places.) a) Tax Tax Rate Tax Amount September Earnings Subject to Tax $ 2,100.00 2,100.00 FICA Social Security FICA Medicare FUTA 130 20 6.20% s 1.45% 30.45 SUTA b) Tax Tax Rate Tax Amount September Earnings Subject to Tax 2,350,00 6 20% $ 145.70 FICA Social Security FICA Medicare 2,350.00 1.45% 34.08 FUTA SUTA 2,350.00 2,350.00 c) September Earnings Subject to Tax Tax Tax Rate Tax Amount FICA Social Security FICA Medicare FUTA SUTA
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