fishing guides co has four employees fica social security taxes are 6 2 of the first 117000 paid to each employee and fica medicare taxes are 1 45/
In addition to gross pay, the company must pay one-half of the $50 per employee weekly health insurance; each employee pays the remaining one-half. The company also contributes an extra 5% of each employee gross pay (at no cost to employees) to a pension fund.
Required
Compute the following for the week ended September 30 (round amounts to the nearest cent):
1. Each employeeFICA withholdings for Social Security.
2. Each employee FICA withholdings for Medicare.
3. Employer FICA taxes for Social Security.
4. Employer FICA taxes for Medicare.
5. Employer FUTA taxes.
6. Employer SUTA taxes.
7. Each employee net (take-home) pay.
8. Employer total payroll-related expense for each employee.

