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Business, 15.07.2020 05:01 NikkyZ9487

Computing payroll taxes LO P2, P3 BMX Company has one employee. FICA Social Security taxes are 6.20% of the first $117,000 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.60% and SUTA taxes are 2.90% of the first $7,000 paid to its employee. Gross Pay through August Gross Pay for September
a. $ 5,500 $2,000
b. 16,500 3,200
c. 100,000 20,500
Compute BMX's amounts for each of these four taxes as applied to the employee's gross earnings for r under each of three separate situations (a), (b), and (c). (Round your answers to 2 decimal places.)

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Computing payroll taxes LO P2, P3 BMX Company has one employee. FICA Social Security taxes are 6.20%...
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