1 Use the following information for the Exercises below. (The following information applies to the...
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1 Use the following information for the Exercises below. (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. September $1,800 3,900 9,800 August $ 6,300 20,000 114,000 eferences Exercise 9-5 Computing payroll taxes LO P2, P3 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.) Tax Rate Tax Amount 6.20%| 1.45% 0.60% 2.90% 111.60 26.10 $ 1,800.00 1,800.00
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