paloma co. stars has four employees fica social security taxes are 6.2 of the first 110,000 paid to each employee, and fica medicare taxes are 1.

paloma co. stars has four employees fica social security taxes are 6.2 of the first 110,000 paid to each employee, and fica medicare taxes are 1.45 of gross pay also for the first 7000 paid to each employee the company’s futa taxes are 0.8% and suta taxes are 2.15%. the company is preparing its payroll calculations for the week ended august 25. payroll records show the following information for the companys four employees