can some one please help me with this ? thank you very much in advance Required

Question

can some one please help me with this ?

thank you very much in advance

Required Information The following information applies to the questions displayed below BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $118,500 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 2.9% of the first $7,000 paid to its employee Gross Pay through August $6,400 Gross Pay for September $ 800 2,100 8,000 a. 18, 200 C. 112, 200 Compute BMX's amounts for each of these four taxes as applied to the employee's gross earnings for September under each of three separate situations (a), (b), and (c). (Round your answers to 2 decimal places.)

Explanation / Answer

a) Tax September Earnings Subject to Tax Tax Rate Tax Amount FICA-Social Security $800.00 6.20% $49.60 FICA-Medicare 800 1.45% $11.60 FUTA 600 0.60% $3.60 SUTA 600 2.90% $17.40 b) Tax September Earnings Subject to Tax Tax Rate Tax Amount FICA-Social Security 2,100.00 6.20% $130.20 FICA-Medicare 2,100.00 1.45% $30.45 FUTA 0 0.60% $0.00 SUTA 0 2.90% $0.00 c) Tax September Earnings Subject to Tax Tax Rate Tax Amount FICA-Social Security 6,300.00 6.20% $390.60 FICA-Medicare 8,000.00 1.45% $116.00 FUTA 0 0.60% $0.00 SUTA 0 2.90% $0.00

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