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Paloma Company 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 August 25. Payroll records show the following information for the company's four employees. Name Dali Trey Gross Pay through August 18 $ 124,300 134,100 8,900 2,850 Current Week Income Tax Gross Pay Withholding $ 4,600 $ 540 3,600 1,200 55 1,400 44 314 Kiesha Chee In addition to gross pay, the company must pay one-half of the $96 per employee weekly health insurance; each employee pays the remaining one-half. The company also contributes an extra 8% of each employee's gross pay (at no cost to employees) to a pension fund. Required: Compute the following for the week ended August 25. (Round your intermediate calculations and final answers to 2 decimal places.): Answer is not complete. Tax Amount 1) Employees' FICA Withholdings for Social Security Earnings Employee Subject to Tax Rate Tax Tax Rate 6.20% Dali $ 3,600.00 % 6.20% Trey 3,600.00 6.20% Kiesha 1,200.00 6.20% Chee 1,400.00 6.20% $ 62.00 X 223.20 74.40 86.80 Total $ 446.40 2) Employees' FICA Withholdings for Medicare Earnings Employee Subject to Tax Rate Tax Tax Rate 1.45% Tax Amount Dali 1.45% $ 66.70 $ 4,600.00 3,600.00 1.45% 52.20 Trey Kiesha 1,200.00 1.45% 17.40 Chee 1,400.00 1.45% 20.30 Total IS 156.60 Tax Amount 3) Employer's FICA Taxes for Social Security Earnings Employee Subject to Tax Rate Tax Tax Rate 6.20% Dali $ 1,000.00 % 6.20% Trey 3,600.00 6.20% 62.00 X 223.20 Kiesha 1,200.00 6.20% 74.40 Chee 1,400.00 6.20% 86.80 Total 446.40 4) Employer's FICA Taxes for Medicare Earnings Employee Subject to Tax Tax Rate Tax Amount Tax Rate 1.45% Dali $ 4,600.00 1.45% 66.70 Trey 3,600.00 1.45% 52.20 Kiesha 411.00 X 1.45% 5.96 Chee 400.00 X 1.45% 5.80 Total $ 130.66 Tax Rate 5) Employer's FUTA Taxes Earnings Employee Subject to Tax Tax Rate Dali 0.00 Tax Amount 0.60% 0.60% 0.00 0.60% Trey Kiesha 1,900.00 X Chee 400.00 x 0.60% $ 2.40 Total $ 2.40 6) Employer's SUTA Taxes Earnings Employee Subject to Tax Tax Rate Tax Amount Tax Rate 5.40% 5.40% Dali $ 0.00 Trey 0.00 5.40% Kiesha 100.00 X Chee 400.00 X 5.40% 21.60 Total $ 21.60 7) Each Employee's Net (take-home) Pay Employee Dali Trey Kiesha Chee Total $ 4,600.00 $ 3,600.00 $ 1,200.00 $ 1,400.00 $ 10,800.00 Gross Pay Income tax withholding FICA - Social Security 540.00 314.00 55.00 44.00 953.00 62.00 223.20 74.40 86.80 446.40 FICA - Medicare 66.70 52.20 5.96 5.80 130.66 Health Insurance 48.00 48.00 48.00 48.00 192.00 Net Pay $ 0.00 Chee Total $ 1,400.00 $ 10,800.00 86.80 446.40 8) Employer's Total Payroll-Related Expense for Each Employee. Employee Dali Trey Kiesha Gross Pay $ 4,600.00 $ 3,600.00 $ 1,200.00 FICA - Social Security 62.00 223.20 74.40 FICA - Medicare 66.70 52.20 5.96 FUTA 0.00 0.00 0.00 SUTA 0.00 0.00 0.00 Health Insurance 48.00 48.00 48.00 5.80 130.66 2.40 2.40 21.60 21.60 48.00 > 192.00 Pension 0.00

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