Question

NOW.2 Online Beschrx + Assignmental Assignment Main.dowoker AsignmentSessicatorprogreso Calculating Social Security and Medicare the toma m s of $118.00 and a Medicare tax rate of 145 applied to all earrings Calculate th Assume a Social Security tax ute of for the following situations If an amount box does not require trave a red round you to the nearestent Before Current Current rear to Date Soc sec over Max Subject to soc sec Tax $ 22.000 $1,700 $118,500 54.000 4200 118,500 117.000 4.600 DOLL

Answer 1

Calculation of Social Security and Medicare Taxes
Cumm. Pay Before Current Weekly Payroll	Current Gross Pay	Year-to-Date Earnings	Soc. Sec. Maximum	Amount over Max. Soc. Sec.	Amount Subject to Soc. Sec.	Soc. Sec. Tax Withheld	Medicare Tax Withheld
$22,000	$1,700	$23,700	$118,500	$0	$1,700	$105.40	$24.65
$54,000	$4,200	$58,200	$118,500	$0	$4,200	$260.40	$60.90
$115,900	$3,925	$119,825	$118,500	$1,325	$2,600	$161.20	$56.91
$117,900	$4,600	$122,500	$118,500	$4,000	$600	$37.20	$66.70
Working
Cumm. Pay Before Current Weekly Payroll	Current Gross Pay	Year-to-Date Earnings	Soc. Sec. Maximum	Amount over Max. Soc. Sec.	Amount Subject to Soc. Sec.	Soc. Sec. Tax Withheld	Medicare Tax Withheld
A	B	C = A+B	D	E = C - D	F = B - E	G = F * 6.2%	H =(E+F)* 1.45%