Maeda Company has the following employees on the payroll:Employee Name MaritalStatus SemimonthlyPayroll WithholdingAllowances Amal S $4,800 1 Miguel M $5,600 2 Byron S $5,000 3 Hiroko M $6,200 4 Using the information above, calculate the payroll taxes (FICA, federal withholding) for each employee for one payroll period. Assume that Maeda Company receives the maximum credit for state unemployment contributions. Use the percentage method for calculating FIT. (Round your answer to 2 decimal places.)
What will be an ideal response?
| Amal: | FIT = | $ | 835.54 | |
| FICA = | $ | 367.20 | ||
| Miguel: | FIT = | $ | 711.72 | |
| FICA = | $ | 428.40 | ||
| Byron: | FIT = | $ | 800.55 | |
| FICA = | $ | 382.50 | ||
| Hiroko: | FIT = | $ | 767.65 | |
| FICA = | $ | 474.30 | ||
Miguel: $5,600.00 ? $345.80 = $5,254.20 ? $3,706.00 = $1,548.20 × 22% = $340.60 + $371.12 = $711.72. $5,600 × 7.65% = 428.40.
Byron: $5,000.00 ? $518.70 = $4,481.30 ? $3,592.00 = $889.30 × 24% = $213.43 + $587.12 = $800.55. $5,000 × 7.65% = 382.50.
Hiroko: $6,200.00 ? $691.60 = $5,508.40 ? $3,706.00 = $1,802.40 × 22% = $396.53 + $371.12 = $767.65. $6,200.00 × 7.65% = $474.30.
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