Use the following information for the Exercises below The following information applies to the questions...
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Accounting
Use the following information for the Exercises below The following information applies to the questions displayed below BMX Company has one employee. FICA Social Medica to its employee taxes are 6.2% of the first $118,500 paid to its employee, and FICA d SUTA ta esa e 2.9% of the first $7000 paid re taxes are 1.45% of gross pay. For BMX, its FUTA taxes are o. 6% 20,000 114,000 ,900 9,800 s 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.) Tax Rate Tax Amount 6.20%| 111.50 26.10 0.67 $ 1,800.00 0.60% 2.90% SUTA
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