Assume that the social security tax rate is 6% and the Medicare tax rate is 1.5%. In the following summary of data for a payroll period, some amounts have been intentionally omitted: Earnings: 1. At regular rate 2. At overtime rate 3. Total earnings Deductions: $48,400 ? 4. Social security tax 19,380 5. Medicare tax 4,845 6. Federal income tax withheld 82,300 7. Medical insurance 11,100 8. Union dues ? 9. Total deductions 120,000 10. Net amount paid Accounts debited: 11. Factory Wages 203,000 171,200 12. Sales Salaries 13. Office Salaries ? 64,600