MRI Company has one employee. FICA Social Security taxes are 6.20% of the first $106,800 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For MRI, its FUTA taxes are 0.80% and SUTA taxes are 2.90% of the first $7,000 paid to its employee.
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Gross Pay through August |
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Gross Pay for September |
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| a. |
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$ |
5,600 |
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|
|
$ |
2,200 |
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| b. |
|
|
16,800 |
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|
|
|
2,900 |
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|
| c. |
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|
100,000 |
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|
|
|
11,100 |
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|
|
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Compute MRIs amounts for each of the above four taxes as applied to the employees gross earnings for September under situation (a). (Round your answers to 2 decimal places. Omit the "$" sign in your response)
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Compute MRIs amounts for each of the above for taxes as applied to the employees gross earnings for September under situation (b). (Leave no cells blank - be certain to enter "0" wherever required. Round your answers to 2 decimal places. Omit the "$" sign in your response)
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Compute MRIs amounts for each of the above four taxes as applied to the employees gross earnings for September under situation (c). (Leave no cells blank - be certain to enter "0" wherever required. Round your answers to 2 decimal places. Omit the "$" sign in your response)
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