Required Information Use the following Information for the Exercises below. [The following...

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Accounting

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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 $128,400 pald 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 5.4% of the first $7,000 pald to its employee. a. b. Gross Pay through August 31 $ 5,300 2,400 122,900 Gross Pay for September $2,600 2,500 8,888 C. CON --... . 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.) Answer is not complete. Tax September Earnings Subject to Tax S 2.600.00 Tax Rate Tax Amount 6.20% S 161.20 FICA-Social Security FICAMedicare FUTA 2.600.00 1.45% 37.70 0.60% 10.20 1,700.00 1,700.00 SUTA 5.40% 91.80 b) Tax Tax Rate Tax Amount 6.20% S 18.66 FICA-Social Security FICA-Medicare September Earnings Subject to Tax 300.90 (161.20) (10.20) (91.80) FUTA SUTA c) Tax September Earnings Subject to Tax Tax Rate Tax Amount FICA-Social Security FICAMedicare FUTA SUTA

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