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Mest Company has nine employees. FICA Social Security taxes are 6.2% of the first $137,700 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 Ken S Tin V Steve S Cumulative Pay $ 6,300 41,900 88,500 Employee Required A Required B Compute the amounts in this table for each employee. Pay Subject to FICA Social Security Ken S Tim V Steve S Julie W 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. Hint Remember to include in those totals any employee share of taxes that the company must collect. Complete this question by entering your answers in the tabs below. Employee Julie W Michael M Zach R Cumulative Pay $ Cumulative Pay $ 145,000 108,400 137,700 6,300 41,900 88.500 145,000 Employee Christina S Kitty 0 John W Pay Subject to Pay Subject to FICA Medicare FUTA Taxes Cumulative Pay $ 140,500 38,400 5,500 Pay Subject to SUTA Taxes

Mest Company has nine employees. FICA Social Security taxes are 6.2% of the first $137,700 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 Ken S Tin V Steve S Cumulative Pay $ 6,300 41,900 88,500 Employee Required A Required B Compute the amounts in this table for each employee. Pay Subject to FICA Social Security Ken S Tim V Steve S Julie W 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. Hint Remember to include in those totals any employee share of taxes that the company must collect. Complete this question by entering your answers in the tabs below. Employee Julie W Michael M Zach R Cumulative Pay $ Cumulative Pay $ 145,000 108,400 137,700 6,300 41,900 88.500 145,000 Employee Christina S Kitty 0 John W Pay Subject to Pay Subject to FICA Medicare FUTA Taxes Cumulative Pay $ 140,500 38,400 5,500 Pay Subject to SUTA Taxes

College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter8: Employer Taxes, Payments, And Reports
Section: Chapter Questions
Problem 4E
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Mest Company has nine employees. FICA Social Security taxes are 6.2% of the first $137,700 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 Ken S Tim V Steve S Cumulative Pay $ 6,300 41,900 88,500 Employee Ken S Tim V Steve S Julie W Complete this question by entering your answers in the tabs below. Required A Required B Compute the amounts in this table for each employee. Pay Subject to FICA Social Security Cumulative Pay $ Employee Julie W Michael M. Zach R 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. Hint Remember to include in those totals any employee share of taxes that the company must collect. 6,300 41,900 Cumulative Pay $ 145,000 108,400 137,700 88,500 145,000 Pay Subject to FICA Medicare Employee Christina 5 Pay Subject to FUTA Taxes Kitty 0 John Wi Cumulative Pay $ 140,500 38,400 5,500 Pay Subject to SUTA Taxes
Transcribed Image Text:Mest Company has nine employees. FICA Social Security taxes are 6.2% of the first $137,700 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 Ken S Tim V Steve S Cumulative Pay $ 6,300 41,900 88,500 Employee Ken S Tim V Steve S Julie W Complete this question by entering your answers in the tabs below. Required A Required B Compute the amounts in this table for each employee. Pay Subject to FICA Social Security Cumulative Pay $ Employee Julie W Michael M. Zach R 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. Hint Remember to include in those totals any employee share of taxes that the company must collect. 6,300 41,900 Cumulative Pay $ 145,000 108,400 137,700 88,500 145,000 Pay Subject to FICA Medicare Employee Christina 5 Pay Subject to FUTA Taxes Kitty 0 John Wi Cumulative Pay $ 140,500 38,400 5,500 Pay Subject to SUTA Taxes
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