Problem 9-3A Payroll expenses, withholdings, and taxes LO P2, P3 Paloma Co. has four employees. FICA

Problem 9-3A Payroll expenses, withholdings, and taxes LO P2, P3 Paloma Co. has four employees. FICA Social Security taxes ar1) Employees FICA Withholdings for Social Security Employee Earnings Subject to Tax Tax Rate Tax Amount Dali Trey Kiesha Che3) Employers FICA Taxes for Social Security Employee Earnings Subject to Tax Tax Rate Tax Amount Dali Treyſ Kiesha Cheer Tot5) Employers FUTA Taxes Employee Earnings Subject to Tax Tax Rate Tax Amount Dali Trey Kiesha Chee Total $ 0.00 6) Employer$ Trey 2,000.00 322.00 $ Kiesha 620.00 54.00 $ Chee 570.00 43.00 $ 7) Each Employees Net (take-home) Pay Employee Dali Gross

Problem 9-3A Payroll expenses, withholdings, and taxes LO P2, P3 Paloma Co. has four employees. FICA Social Security taxes are 6.2% of the first $118,500 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 2.15%. 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 Kiesha Chee Gross Pay through Aug. 18 $115,850 116,500 8,800 2,750 Current Week Income Tax Gross Pay Withholding $ 3,700 $ 525 2,000 322 620 54 570 43 In addition to gross pay, the company must pay one-half of the $94 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.): 1) Employees' FICA Withholdings for Social Security Employee Earnings Subject to Tax Tax Rate Tax Amount Dali Trey Kiesha Chee Total $ 0.00 2) Employees' FICA Withholdings for Medicare Employee Earnings Subject to Tax Tax Rate Tax Amount Dali Trey Kiesha Chee Total $ 0.00 3) Employer's FICA Taxes for Social Security Employee Earnings Subject to Tax Tax Rate Tax Amount Dali Treyſ Kiesha Cheer Total $ 0.00 4) Employer's FICA Taxes for Medicare Employee Earnings Subject to Tax Tax Rate Tax Amount Dali Trey Kiesha Chee Total $ 0.00 5) Employer's FUTA Taxes Employee Earnings Subject to Tax Tax Rate Tax Amount Dali Trey Kiesha Chee Total $ 0.00 6) Employer's SUTA Taxes Employee Earnings Subject to Tax Tax Rate Tax Amount Dali Trey Kiesha Chee Total $ 0.00 $ Trey 2,000.00 322.00 $ Kiesha 620.00 54.00 $ Chee 570.00 43.00 $ 7) Each Employee's Net (take-home) Pay Employee Dali Gross Pay $ 3,700.00 Income tax withholding 525.00 FICA – Social Security FICA – Medicare Health Insurance I Net Pay Total 6,890.00 944.00 0.00 0.00 D 0.00 0.00 $ $ $ 0.00 Kiesha 620.00 0.00 0.00 8) Total Payroll Related Expense for Each Employee Employee Dali Trey Gross Pay $ 3,700.00 $ 2,000.00 FICA – Social Security 0.00 FICA – Medicare 0.00 0.00 FUTA 0.00 0.00 SUTA 0.00 0.00 Health Insurance Pension Total Payroll Expense | $ 3,700.00 $ 2,000.00 Chee 570.00 0.00 0.00 0.00 0.00 Total 6,890.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 6,890.00 $ 620.00 $ 570.00 $