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Problem 11-3A 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 companys 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 companys four employees. Current Week Gross Pay Income Tax Name through Aug. 18 Gross Pay Withholding Dali Trey Kiesha Chee $117,400 117,600 6,900 1,250 $2,000 900 450 400 284 145 39 30 In addition to gross pay, the company must pay two-thirds of the $60 per employee weekly health insurance; each employee pays the remaining one-third. The company also contributes an extra 8% of each employees 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.)

5) Employers FUTA Taxes Earnings Subject to Tax Tax Amount Tax Rate Employee Dali Trey Kiesha Chee 0.00 이 0.00ク 0.00 0.60% 0.60% 400.00ク Total S 0.00 6) Employers SUTA Taxes Earnings Subject to Tax Tax Amount Tax Rate Employee 2.15% Dali Trey Kiesha Chee 0.00 0.00 0.00 400.00 2.15% Tota S 0.00

7) Each Employees Net (take-home) Pay Kiesha Chee Total Employee Gross Pay Income tax withholdin FICA Social Security FICA Medicare Health Insurance Dali re $ 2,000.00 284.00 68.20 29.00 40.00 900.00 S450.00 400.00 3,750.00 498.00 176.70 54.38 160.00 1,153.85 X $ 563.43 S 510.60 x S 4,649.08 145.00 55.80 13.05 40.00 39.00 27.90 6.53 40.00 30.00 24.80 5.80 40.00 Net Pay $ 2,421.20 x

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Employers FUTA taxes Employee Dali Tre Kiesha Chee Total Earning subject to tax Tax rate Tax amount 0.50%) $ 0.50%) $ 100.00 10.50%) $ 0.50%) $ 0.60 2.40 $3.00 400.00 | Employers SUTA taxes Employee Dali Tre Kiesha Chee Total Earning subject to tax Tax rate Tax amount 2.15%) $ 2.15%) $ 2.15%) $ 100.00 | 400.00 2.15 | 2.15%) $ 8.60 $ 10.75 Each Employees Net (take home) Dali Employee Gross pay Income tax withholding $ FICA- social securit FICA- Medicare Health insurance Net Kiesha Chee Total 2,000.00$900.00$ 450.00 $400.00 $3,750.00 284.00 $145.00 39.00$30.00 $ 498.00 68.20$ 55.80 $27.90|$ 24.80$ 176.70 6.53 5.80 S 54.38 29.00$ 13.05 20.00 $ 20.00 $ 20.00| $ 20.00$ 80.00 1,598.80$666.15$ 356.57 319.40 $2,940.92

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