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Business, 09.04.2021 04:30 samsmith666

Mest Company has nine employees. FICA Social Security taxes are 6.2% of the first $128,400 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to each employee. Cumulative pay for the current year for each of its employees follows. Employee Cumulative Employee Cumulative Employee Cumulative
Pay Pay Pay
Ken S $5,300 Michelle W $148,000 Lori K $135,400
Tim V 44,900 Michael M 111,400 Kitty O 41,400
Steve S 91,500 Zach R 132,900 John W 13,500
A. Compute the amounts in this table for each employee.
B. For the company, compute each total for FICA Social Security taxes, FICA Medicare taxes, FUTA taxes, and SUTA taxes.

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Mest Company has nine employees. FICA Social Security taxes are 6.2% of the first $128,400 paid to e...
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