Question: 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
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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 $118,500 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 2.9% of the first $7,000 paid to its emp.oyee Gross Pay for September $ 400 Gross Pay through August $ 6,700 18,500 112,500 a. b. 2,400 8,300 C. Exercise 9-5 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 September under each of three separate situations (a). (b), and (c). (Round your answers to 2 decimal places.) a) September Eanings Subject to Tax Tax Tax Rate Tax Amount FICA-Social Security FICA-Medicare FUTA SUTA b) September Earnings Subject to Tax Tax Tax Rate Tax Amount FICA-Social Security o the employee's gross Compute BMX's amounts for each of these four taxes as app earnings for September under each of three separate situations (a), (b), and (c). (Round you answers to 2 decimal places.) a) September Earnings Subject to Tax Tax Amount Tax Tax Rate FICA-Social Security FICA-Medicare FUTA SUTA b) September Earnings Subject to Tax Tax Tax Rate Tax Amount FICA-Social Security FICA Medicare FUTA SUTA c) September Earnings Subject to Tax Tax Rate Tax Amount Tax FICA-Social Security FICA-Medicare FUTA SUTA
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