Question

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.

						Current Week
Name	Gross Pay through Aug. 18					Gross Pay					Income Tax Withholding
Dali		$	115,800				$	3,600				$	511
Trey			116,450					2,050					330
Kiesha			8,700					610					53
Chee			2,650					560					42

In addition to gross pay, the company must pay one-half of the $92 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
Trey
Kiesha
Chee
		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
7) Each Employee's Net (take-home) Pay
Employee	Dali	Trey	Kiesha	Chee	Total
Gross Pay	$3,600.00	$2,050.00	$610.00	$560.00	$6,820.00
Income tax withholding	511.00	330.00	53.00	42.00	936.00
FICA - Social Security					0.00
FICA - Medicare					0.00
Health Insurance					0.00
Net Pay					$0.00
8) Total Payroll Related Expense for Each Employee
Employee	Dali	Trey	Kiesha	Chee	Total
Gross Pay	$3,600.00	$2,050.00	$610.00	$560.00	$6,820.00
FICA - Social Security	0.00	0.00	0.00	0.00	0.00
FICA - Medicare	0.00	0.00	0.00	0.00	0.00
FUTA	0.00	0.00	0.00	0.00	0.00
SUTA	0.00	0.00	0.00	0.00	0.00
Health Insurance					0.00
Pension					0.00
Total Payroll Expense	$3,600.00	$2,050.00	$610.00	$560.00	$6,820.00