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1. Each employees FICA withholdings for Social Security

	Ahmed	Carlos	Jun	Marie	Total
Maximum base
Earned through 9/23
Yet under maximum
Earned this week
Subject to tax
Tax rate
Social Security tax

2. Each employees FICA withholdings for Medicare (no limits)

	Ahmed	Carlos	Jun	Marie	Total
Earned this week
Tax rate
Medicare tax

3. Employers FICA taxes for Social Security

	Ahmed	Carlos	Jun	Marie	Total
Amount from part 1

4. Employers FICA taxes for Medicare

	Ahmed	Carlos	Jun	Marie	Total
Amount from part 2

Problem 9-3B (Concluded)

5. Employers FUTA taxes

	Ahmed	Carlos	Jun	Marie	Total
Maximum base
Earned through 9/23
Yet under maximum
Earned this week
Subject to tax
Tax rate
FUTA tax

6. Employers SUTA taxes

			Ahmed		Carlos		Jun		Marie		Total
	Subject to tax (from 5)
	Tax rate
SUTA tax

7. Each employees net (take-home pay)

Ahmed

Carlos

Jun

Marie

Total

Gross earnings

Less

FICA Social Sec. tax

FICA Medicare taxes

Withholding taxes

Health insurance

Take-home pay

Fishing Guides Co. has four employees. FICA Social Security taxes are 6.2% of the first $137,700 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. Also, for the first $7,000 paid to each employee, the company's FUTA taxes are 0.6% and SUTA taxes are 5.4%. The company is preparing its payroll calculations for the week ended September 30 . Payroll records show the following information for the company's four employees. In addition to gross pay, the company must pay 60% of the $50 per employee weekly health insurance; each employee pays the remaining 40%. The company also contributes an extra 5% of each employee's gross pay (at no cost to employees) to a pension fund. Required Compute the following for the week ended September 30 (round amounts to the nearest cent): 1. Each employee's FICA withholdings for Social Security. 2. Each employee's FICA withholdings for Medicare. 3. Employer's FICA taxes for Social Security. 4. Employer's FICA taxes for Medicare. 5. Employer's FUTA taxes. 6. Employer's SUTA taxes. 7. Each employee's net (take-home) pay. 8. Employer's total payroll-related expense for each employee. Fishing Guides Co. has four employees. FICA Social Security taxes are 6.2% of the first $137,700 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. Also, for the first $7,000 paid to each employee, the company's FUTA taxes are 0.6% and SUTA taxes are 5.4%. The company is preparing its payroll calculations for the week ended September 30 . Payroll records show the following information for the company's four employees. In addition to gross pay, the company must pay 60% of the $50 per employee weekly health insurance; each employee pays the remaining 40%. The company also contributes an extra 5% of each employee's gross pay (at no cost to employees) to a pension fund. Required Compute the following for the week ended September 30 (round amounts to the nearest cent): 1. Each employee's FICA withholdings for Social Security. 2. Each employee's FICA withholdings for Medicare. 3. Employer's FICA taxes for Social Security. 4. Employer's FICA taxes for Medicare. 5. Employer's FUTA taxes. 6. Employer's SUTA taxes. 7. Each employee's net (take-home) pay. 8. Employer's total payroll-related expense for each employee

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