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Assume a tax rate of 6.2% on $142,800 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 $142,800 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 9.1). Note: Do not round intermediate calculations and round your final answers to the nearest cent. Lai Xiaodong, a 22-year-old college-educated man, accepted a job at Foxconn Technology (where the iPad was being produced for Apple) in Chengdu, China, for $24 a day at 12 hours a day, 6 days a week. What were Lai's hourly, weekly, and annual gross pay? Note: Round the hourly gross pay to the nearest cent. Assume a tax rate of 6.2% on $142,800 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 9.1). Note: Do not round intermediate calculations and round your final answers to the nearest cent. Lai Xiaodong, a 22-year-old college-educated man, accepted a job at Foxconn Technology (where the iPad was being produced for Apple) in Chengdu, China, for $24 a day at 12 hours a day, 6 days a week. What were Lai's hourly, weekly, and annual gross pay? Note: Round the hourly gross pay to the nearest cent
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