Problem $9-3$A $($Algo$)$ Payroll expenses, withholdings, and taxes LO P$2,$ P$3$

Paloma Company has four employees. FICA Social Security taxes are $6\mathrm{.}2\%$ of the first $$137,700$ paid to each employee, and FICA Medicare taxes are $1\mathrm{.}45\%$ of gross pay. Also, for the first $$7,000$ paid to each employee, the company's FUTA taxes are $0\mathrm{.}6\%$ and SUTA taxes are $5\mathrm{.}4\%.$ 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.

$\backslash$table$[[,,$Current Week$],[,$Gross Pay through,,Income Tax$],[$Name$,$August $18,$Gross Pay,Withholding$],[$Dali$,$$$123,700,$$$5,200,$$$625$Problem $9-3$A $($Algo$)$ Payroll expenses, withholdings, and taxes LO P$2,$ P$3$

Paloma Company has four employees. FICA Social Security taxes are $6\mathrm{.}2\%$ of the first $$137,700$ paid to each employee, and FICA Medicare taxes are $1\mathrm{.}45\%$ of gross pay. Also, for the first $$7,000$ paid to each employee, the company's FUTA taxes are $0\mathrm{.}6\%$ and SUTA taxes are $5\mathrm{.}4\%.$ 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.

$\backslash$table$[[,,$Current Week$],[,$Gross Pay through,,Income Tax$],[$Name$,$August $18,$Gross Pay,Withholding$],[$Dali$,$$$123,700,$$$5,200,$$$625$