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BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $137,700 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 Pay through August 31 Gross Pay for September
a. $ 5,500 $ 2,300
b. 3,000 3,100
c. 132,400 9,000

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anthougo

The gross pay through August 31 and September 30 for the single employee of BMX Company is likely to be b. $3,000 and $3,100, respectively.

What is gross pay?

Gross pay refers to the total payment that an employee is entitled to receive before any deductions are taken away.

Some of the deductions are:

  • FICA Social Security taxes
  • FICA Medicare taxes
  • FUTA taxes
  • SUTA taxes

After the deductions from the gross pay, the balance is known as the net pay.

Thus, the gross pay through August 31 and September 30 for the single employee of BMX Company is likely to be b. $3,000 and $3,100, respectively.

Learn more about gross pay and deductions at https://brainly.com/question/13793671

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