1.

Solve the following problem using 6.2%, up to $113,700, for social security tax and 1.45%, no wage limit, for Medicare tax.

What are the social security and Medicare withholdings for an executive whose annual gross earnings are $118,430?

Social security: $

Medicare: $

2.

Use the percentage method of income tax calculation to complete the following payroll roster.

Employee	Marital Status	Withholding Allowances	Pay Period	Gross Earnings	Income Tax Withholding
Farley, D.	M	4	Biweekly	$1,849	$