Acc225 Fundamental of Accounting Principles:P11-4A Pardee Co. pays its employees each week

Acc225 Fundamental of Accounting Principles
Pardee Co. pays its employees each week. Its employees' gross pay is subject to these taxes.
Tax Rate Applied To
FICA-Social Security 6.20% First $102,000
FICA-Medicare 1.45% All gross pay
FUTA 0.80% First $7,000
SUTA 2.15% First $7,000

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:
Name Gross Pay through 8/18 Current Week Gross Pay Income Tax Withholding
Dahlia 100,500 4,900 613
Trey 35,175 1,407 155
Kiesha 6,770 730 88
Chee 1,083 433 39

In addition to gross pay, the company must pay one-half of the $30 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.

Compute the following for the week ended August 25. (Round your answers to 2 decimal places. Leave no cells blank - be certain to enter "0" wherever required. Omit the "$" sign in your response.)
1. Employee's FICA withholdings for Social Security
2. Employee's FICA withholdings for Medicare (no limits)
3. Employer's FICA taxes for Social Security (from a)
4. Employer's FICA taxes for Medicare (from b)
5. Employer's FUTA taxes
6. Employer's SUTA taxes
7. Employee's net (take-home) pay
8. Employer's total payroll-related expense for each employee

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