Question: Use the following information for the Exercises below. (Static) [The following information applies to the questions displayed below] BMX Company has one employee. FICA Social
![information applies to the questions displayed below] BMX Company has one employee.](https://dsd5zvtm8ll6.cloudfront.net/si.experts.images/questions/2024/09/66fafbd6988c3_50266fafbd63d95e.jpg)
Use the following information for the Exercises below. (Static) [The following information applies to the questions displayed below] BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $137,700 paid to its empioyee, 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. Exercise 9-7 (Static) 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). Note: Round your answers to 2 decimal places
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