Solution-Compute BMX amounts for each of these four taxes

Compute BMX amounts for each of these four taxes

Reference no: EM132441739

Question - BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $128,400 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 5.4% of the first $7,000 paid to its employee.

	Gross Pat through August 31	Gross Pay for September
a	$6,400	$1,700
b	2,950	3,050
c	124,000	9,900

Required - 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).

Reference no: EM132441739

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Compute BMX amounts for each of these four taxes

Reference no: EM132441739

Reference no: EM132441739

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