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Assume a tax rate of 6.2% on $118,500 for Social Security and 1.45% for Medicare. No one will reach the maximum for FICA. Complete the
Assume a tax rate of 6.2% on $118,500 for Social Security and 1.45% for Medicare. No one will reach the maximum for FICA. Complete the following payroll register. (Use the percentage method to calculate FIT for this weekly period.) (Use Table 7.1 and Table 7.2). (Do not round intermediate calculations and round your final answers to the nearest cent.) FICA Allowances Employee Marital status Gross pay FIT S.S. Med. Net pay claimed Sam Rouche M 5 $ 3,400
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