Question

Employee	Cumulative Pay	Employee	Cumulative Pay
Ken S	5000	Kyle	120000
Tim V	63200	Lori	122500
Steve	90000	Kitty	39900
Michael	149500	John	7000
Erin	109900

Mest company has 9 employess. EICA social secutiry taxes are 6.2 percent of the first 188500 paid to each employee and FICA medicare tazes are 1.45 percent of gross pay. FUTA tazes are 0.6 percent and SUTA tazes are 5.4 percent of the first 7000 paid to each empoloyee cumulative pay for the current year for year of its emplooyes follows

a. complete the amouns in a table for each employee

Pay subject FICA SS medicare FUTA taxes SUTA Taxes

b. For the company compute each total for FICA SS tazes medicare taxes FUTA taxes and SUTA taxes round your fiannl answers to 2 decimcal palces

Answer 1

a. complete the amouns in a table for each employee

Employee	Cumulative Pay	Pay Subject to FICA Social Security	Pay Subject to to FICA Medicare	Pay Subject to FUTA TAX	Pay Subject to SUTA TAX
Ken S	5,000.00	310.00	72.50	30.00	270.00
Tim V	63,200.00	3,918.40	916.40	379.20	378.00
Steve	90,000.00	5,580.00	1,305.00	540.00	378.00
Michael	149,500.00	9,269.00	2,167.75	897.00	378.00
Erin	109,900.00	6,813.80	1,593.55	659.40	378.00
Kyle	120,000.00	7,440.00	1,740.00	720.00	378.00
Lori	122,500.00	7,595.00	1,776.25	735.00	378.00
Kitty	39,900.00	2,473.80	578.55	239.40	378.00
John	7,000.00	434.00	101.50	42.00	378.00
Total	707,000.00	43,834.00	10,251.50	4,242.00	3,294.00

b. For the company compute each total for FICA SS tazes medicare taxes FUTA taxes and SUTA taxes round your fiannl answers to 2 decimcal palces

	Tax Paid by Employee	Tax Paid by Employer	Total Tax
FICA Social Security taxes	43834		71%
FICA Medicare taxes	10251.5		17%
FUTA taxes		4242	7%
SUTA taxes		3294	5%