The chief executive officer earns $10,120 per month. As of May 31, her gross pay was $50,600. The tax rate for Social Security is 6.2% of the first $128,400 earned each calendar year and the FICA tax rate for Medicare is 1.45% of all earnings. The current FUTA tax rate is 0.6%, and the SUTA tax rate is 5.4%. Both unemployment taxes are applied to the first $7,000 of an employee’s pay. What is the amount of FICA-Social Security withheld from this employee for the month of June?

[The following information applies to the questions displayed below.] BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $137,700 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to its employee. Gross Pay through August 31 $ 6,600 2,200 131,600 Gross Pay for September $ 500 2,300 8,200 a. b. с. Assuming situation (a), prepare the employer's September 30 journal entry to record the employer's payroll taxes expense and its related liabilities. Complete this question by entering your answers Payroll Taxes Expense General Journal Assuming situation (a), compute the payroll taxes expe to 2 decimal places.) September earnings subject to tax Employer Payroll taxes Tax Rate Tax Amount

Thomas Martin receives an hourly wage rate of $15, with time-and-a-half pay for all hours worked in excess of 40 hours during a week. Payroll data for the current week are as follows: hours worked, 48; federal income tax withheld, $370; social security tax rate, 6.0%; and Medicare tax rate, 1.5%. What is the gross pay for Martin? Round your answer to the nearest whole dollar. Oa. $720 Ob. $780 Oc. $1,080 Od. $1,440

Dr. Josef Young earns an adjusted gross weekly income of $2,472. How much Social Security tax should be withheld the first week of the year? How much Medicare tax should be withheld? The Social Security tax rate is 6.2% from earnings to be taxed to a maximum annual wage of $118,500. The Medicare tax rate is 1.45% from all earnings to a maximum annual wage of $200,000.   The Social Security tax is $??? (Type an integer or a decimal. Round to the nearest cent as needed.)   The Medicare tax is $??? (Type an integer or a decimal. Round to the nearest cent as needed.)

Richard Gaziano is a manager for Health Care, Incorporated. Health Care deducts Social Security, Medicare, and FIT (by percentage method) from his earnings. Assume a rate of 6.2% on $142, 800 for Social Security and 1.45% for Medicare. Before this payroll, Richard is $1,000 below the maximum level for Social Security earnings. Richard is married, filing jointly and is paid weekly. What is Richard's net pay for the week if he earns $1,750? (Use Table 9.1).

Can I please get help with this question? Paloma Company has four 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. Also, for the first $7,000 paid to each employee, the company’s FUTA taxes are 0.6% and SUTA taxes are 5.4%. 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 August 18 Gross Pay Income Tax Withholding Dali $ 125,500 $ 3,400 $ 369 Trey 135,100 2,600 411 Kiesha 7,700 1,800 44 Chee 1,650 1,000 35 In addition to gross pay, the company must pay one-half of the $72 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.

An employee earned $62,500 during the year working for an employer. The FICA tax rate for Social Security is 6.2% of the first $128,400 of employer earnings per calendar year and the FICA tax rate Medicare is 1.45% of all earnings. The current FUTA tax rate is 0.6%, and the SUTA tax rate is 5.4%. Both unemployment taxes are applied to the first $7,000 of an employee's pay. What is the amount of total unemployment taxes the employee must pay?

The monthly salaries for December and the year-to-date earnings as of November 30 for the three employees of the Lakeview Medical Center are listed below. Compute the amount of social security tax and Medicare tax to be withheld from each of the employee's gross pay for December. Assume a 6.2 percent social security tax rate on a maximum of $132,900 for the calendar year. Assume a 1.45 percent Medicare tax rate. (Round your answers to 2 decimal places. Leave no cells blank - be certain to enter "O" wherever required.) Employee December Y-T-D Earnings Soc. Sec. Number Medicare Tax for Dec, Salary through Nov. 30 Tax for Dec. 7,500 $ 69,500 2 9,000 129,000 8,500 122,600

Martin Jackson receives an hourly wage rate of $25, with time and a half for all hours worked in excess of 40 hours during a week. Payroll data for the current week are as follows: hours worked, 46; federal income tax withheld, $362; social security tax rate, 6.0%; and Medicare tax rate, 1.5%. What is the net amount to be paid to Jackson? Oa. $1,225.00 Ob. $1,846.13 Oc. $771.13 Od. $1,633.13

Kenneth McFarland's weekly gross earnings for the week ending March 9 were $2,170, and her federal income tax withholding was $390.60. Assuming the social security tax rate is 6% and Mcdicarc tax is 1.5% of all carnings, what is McFarland's net pay? If required, round your answer to two decimal places.